There are two absolutes in this hobby. One is that everyone has an opinion, and the other is that opinion changes with experience. It's like the old adage of "I remember the first time I was kissed by a girl, and the first time I got punched in the face, and neither had to happen twice for me to figure out which I liked and which I didn't." If my opinion seems negative, please understand it is an opinion based on my experience and the experiences I've witnessed from other owners over the course of 40 or so years in this hobby.
I don't know of anyone who's ever bought a project car with the thought "man, this is going to be a huge burden on me financially, time wise, and family wise. Am I really doing the right thing?" going through their heads. Nope. In their minds that car has already been restored and they are sitting in the driver's seat of a car that's everything they could hope for. They don't see a rusted out POS, nor do they see thousands of dollars and man hours going into the car. They are aware of these issues, but not focused on them. What they're focused on is they see a beautiful 1 of X 19XX (fill in the blank) sitting in the garage or driveway and it's all theirs! BTW, this is the psychology of why car salesman ask you questions like "where are you going to take this car on vacation?" or "what do you think your neighbors will say when you bring this home?" These questions aren't because the salesman is interested in the answers. The questions are because they force your mind to create mental images of you on vacation with your new vehicle, or your neighbors all rushing to your house to check out your new ride, which instill a sense of mental ownership and keep your mind from thinking about how much it's going to suck to write that payment check every month. ;)
Unfortunately, it's been my experience that for every guy who buys a car in a poor state and actually drops the time and money into restoring it, there are about ten or so who make a good-faith effort at the task and then run out of money, spousal support, room, patience, or ability and then the car ends up wasting away because the owner wants to delude themselves into the "I'm gonna fix it up someday" mindset or they become obsessed with getting an unrealistic price for the remains so they can self-justify that everything they've done to that point hasn't been a waste. What's worse is these guys often don't learn from their mistakes and after a few years will drop another load of cash on another basket case.
This is why my advice to car buyers is only buy cars that you are
absolutely certain can be made to meet your needs within your time, money, and family support resources. If you don't have loads of disposable income and time to put into a rusted-out POS, don't buy it! No matter how enthusiastic you are when you buy it, you're eventually going to cross that line I mentioned before and you're going to take a loss. Buy a car that costs a little more on the front-end but requires less investment to get it where you want it. Guys who do this come out ahead most of the time. The guys who buy the rusted out POS end up failing nine times out of ten and become that guy pinning his hopes on an ebay auction where he's selling a car with massive rust, missing parts, and that's mostly disassembled and hoping for someone dumber than him to buy it.
The saddest thing is everyone honestly thinks they're the one that is going to make it.