I am from the Northeast where rust has claimed the majority of 02s that spent their life here. As another member said the car would be a parts car in a place like CA while it might be a legitimate project car here.
For what it's worth... I have a car at a local well-known restoration shop and know full well how expensive it can be to have a "pro" do the work. Some cars are worth the expense because you might get your money back or because the car has so much sentimental value it may be worth whatever you have to put in to it... to you (I emphasize "to you" because that cost will probably exceed it's market value and you need to be okay with that).
Keep in mind there were a lot of 02s made so if this particular one is nothing "special" (I don't mean to offend anyone with that comment... all 02s are special in one way or another!) and the sentimental value does not exceed the cost of restoring it, it's probably not worth having someone do the metalwork. Instead, I would look at it as a great way for you to get some experience with welding. If you can learn how to weld well, you'll have gained a skill that will serve you VERY well as an 02 owner and this car will probably end up being the best $250 you spend.
Hopefully we'll get to see some more pictures. Either way, good luck with the car...