Where is minor surface rust? If its not too bad a guy in my club actually polished off the surface rust stains. It can seep through the paint. Problem solved.
Restoring a car 100% properly requires a huge investment of time, money and above all space. I restored the VB piece by piece, in a 'rolling' fashion. I didn't strip it down; firstly make a list of any mechanical/trim defects it has and get those done as money/time becomes available. Good thing about this in between repairs you can still drive it and its not lying about in pieces. Downside is it will never be 100% perfect and it will probably never be concourse/throphy winner quality, but it'd be good enough to be 'condition 1'.
The body might be a killer. The respray on the VB in 2k was $6k (also involved removing all dents), the rust repairs (lower rear 3/4, boot floor and front cowl) was $1500 plus the panels I supplied (got these from rare spares). Unless you are good at welding and painting and want to tackle it yourself.
Big tip is - if the car is in original lacquer, if you ever get a panel repair done and need to paint it, either get the whole car done in 2k, or find a shop that can do it in lacquer. 2k and lacquer paint colours will never match under all lighting conditions.