Thank you. I'm looking forward to getting started.
I'm having a little trouble understanding why some of these car's can be purchased for around $10K original non-restored.
An original, unrestored car for $10K, if in driving condition, will certainly have some issues that will come to surprise you at a later date. Things such as rust--which might be so extensive that it is dangerously unrepairable. Transmission issues, fuel system issues, etc.
The cost of repair or restoration can be very high. For example, it is not uncommon to find an older car that might need a "workover" of the fuel injection system. That migh require a rebuild of the FI pump ($1K); a new fuel pump from the tank ($600); new injectors (
); and a new tank itself ($1,200). So you spend the few thousand to put it all right, and you still have a rust issue. The good news is a lot of parts, if not most, are still available either new, repro, or used. Bad news is they are costly, particularly the new parts.
Best bet is to follow the advice here, and start "studying" the cars for sale. Go look at ones near to where you are. Kick some tires, and start taking notes.