I agree with Douglas, Arjun. I made a mistake of purchasing a 190SL a couple of years ago thinking it was a project. The thing is, the car had rust issues and soon learned that the $$$$ involved were very real, but what convinced me to sell it was the fact that I didn't want to put new steel in everywhere. I wanted an original car. So I sold that 190SL without ever having heard the engine turn over.
Spent about a year looking for a rustfree w113 and finally found it. Seeing it in the shop stripped down to metal now is very satisfying, it is dry and no rust at all. I will tell you that even an original and rustfree car can cost you $$$$$, though. I am holding off on any engine work cause it doesn't need it now (based on what I read in Dan Caron's postings on compression, etc.) but changing color, refurbishing the mechanical systems, etc. etc. is expensive. You should have one of these experienced guys come and look at your car before you start sinking the bucks in it. After all, if you bought it for X dollars, then you can resell it for somewhere around X dollars if you back out of it.
-CD-
1967 230SL, 113.042 10