New owner in Maryland - taking a '93 GT roadracing on the cheap

Good afternoon! I'm Tom from Gaithersburg MD, and I'm the new owner of a '93 GT that I'll be building into an endurance road racing car for the 24 hrs of LeMons, Champcar, AER, and WRL. Our primary focus will be on LeMons, so that means a tight budget and creative solutions. I've been around track days since 2002, did my first LeMons race in 2008, and have done a few races over the years (VIR, CMP, PBIR, Thunderhill, etc.). This is my first Mustang, though, so I have a lot to learn about this platform.

The car lived in PA it's whole life, so you'd think it would be a rusty basket case. Amazingly, the shell and the bodypanels are in really good shape. A new LeMons team near Philly bought the car and started prepping it a few years ago, but as many teams do, they dissolved before the car was completed. The car already has a "You-weld-it" cage from Roll Cage Components that will need some attention before it passes tech, but it's a very good starting point.

Beyond the cage, the car looks to be pretty original from the pictures. We're picking up the car on Saturday and will assess condition and what the car needs over the next few weeks. The plan is to get it running and driving reliably, do a track day or two to make sure it's worth completing the build, and then we'll finish the build and race it.

I know there is a mountain of information here on roadracing the fox chassis, so I'll do my best to search before asking those dreaded "we've answered this 1000x before" questions. I've been around for a long time...I know better.
 
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Here's the FS ad on the LeMons forum. The owner runs a Ford dealership just north of Philly, so they put the car on the lift and took a bunch of pictures to show minimal rust.

I think the black on the car is from plasti-dip, so that will come off in short order. Not shown in the pics, but the car comes with the full interior, so I'll be selling that shortly. It's hard to see, but I think the dash is in decent shape, so I'd like to take that out and rework the front of the cage to fit better. All of this will come in time.
 
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