Hank, I think you have a good bike at a good price, many of the things that need replacing are things that you would necessarily have to do anyway, things such as; fork tubes, exhausts, mudguards etc. I actually think the frame is probably useable as it looks like, apart from the missing rear loop (which a number of people remove in order to build something with a smaller seat or a racing seat) the bike simply has longer fork tubes and short struts on the rear. You can always offer the frame on E-bay once you decide that you no longer need it. I would suggest that you have a trawl through various photos of other Commandos to decide what model you would ultimately like to build, although you have what appears to be a High rider/SS type tank there is no reason that you can't build it into anything you fancy from an Interstate to a Cafe Racer special. All of the parts are readily available. Good luck and keep us posted.