Welcome to the forum PKelly. It sounds like you have the potential for a great project. Since you know the entire history of the truck there shouldn't be any "previous owner" surprises that often creep in adding excessive costs to the restoration.
Unfortunately it's going to be very hard to answer your questions without a lot more info. If the motor doesn't need a rebuild, and the body isn't rusted beyond surface rust you are miles ahead in potential expenses. If you can do the majority of the work yourself and your pretty good at horse trading for parts or labor you have a good jump on things as well.
On the other hand if your going to have to pay to have any of the restoration done, and you want it done to a level that will last for a long time then the cost goes up substantialy.
Just to get an average paint job that doesn't include a lot of panel replacement you are looking at a bare minimium of 3000.00. Yes it can be done cheaper, but it will show. It's not uncommmon for a complete repaint to cost 5000-7000 and show quality can go over 10k.
I'm not trying to scare you away, just letting you know it won't be cheap. On the other hand if you end up spending 30k when it's all done and you have a like new truck that will be in the family for years to come I think that's a pretty good deal....
