What do you know about the CX500?

[Pterodactyl_imp]

Mate, you have the makings of a good bike there. Flynrider makes some good points in his post above. If you are unsure of how to proceed see if you can find a "mentor" with some experience of bike restoration projects. Must be a club of some sort in your area*. As you proceed you will learn a lot about basic mechanical skills, the bike, and, most likely, yourself. I can guarantee that, on completion of the project, you will be proud of your new baby.

Cheers

* maybe enlist the help of your bike mechanic mate.