Project Car Heaven or Hell? 1965 Lotus Elan S2

I’ve purchased a few disassembled project cars over the years to question my own sanity, but I can tell you for certain that I’ve learn a few important things. The first is that you shouldn’t buy a disassembled project car and the second is…oh…that’s it. But. BUT…when I see something like this car, I can’t help but think, “how bad can it be…what if the owner DOES have all of the parts necessary to reassemble it” and then I remember that I still don’t have functioning reverse lights on a car I’ve owned for 20 years because the previous owner swapped the transmission and didn’t finish the job. But…do you know much an assembled Elan costs? Find this 1965 Lotus Elan S2 in pieces offered for $15,000 in Santa Cruz, CA via craigslist.

From the seller:

1965 Lotus Elan S2
condition: good
cylinders: 4 cylinders
drive: rwd
fuel: gas
odometer: 40000
odometer rolled over
paint color: blue
title status: clean
transmission: manual
type: convertible
1965 Lotus Elan S2 project
$15k or best offer

Barn find (ok suburban garage, but close enough)
Stored inside for 30 years
Right-hand drive, convertible
Clean California title with current registration

Stack of receipts from the late 80s including:

Brand new Spyder chassis imported from UK
Lacquer paint in Lagoon Blue with sprint style gold/white stripes

Engine rebuilt (but has been sitting all that time, will need new seals)
701M engine block, Weber head, Sprint valves, DeLong cams

Everything is there to complete this project,
2 sets of Weber carbs, wiring harness, gauges, door handles, carpet kit, etc
EXCEPT: it is missing the seats

Family health issues force sale

See a better way to spend the next two decades sorting out issues?