I found mine on Craigslist...a 63 1/2 galaxie in the woods for 20 plus years and the owner did have the title.  Asking price was 800.00 and the car  complete less the power steering pump.  The frame was good but the bottom of the body was rusty as well as floors and trunk.  I negotiated 600.00 due to the fact the title was questionable since the son was selling and the title was being held by his late father and was in another man's name who sold the car to him many years ago.  The father had not re-titled the car and was saving it for parts possibly.  I figured I could part it out and recoup my 600.00 if I couldn't get it titled.  Another risk was the possibility of having the car confiscated because VIN search at the dmv could come up as being owned by someone else.  It worked out but I have spend 4 1/2 years on it and spent an average of 2500.00 to 5K a year on it and just now getting on the road and it is only a driver quality car.  I would NOT recommend this project for a high school or college student with limited time and funds. I am 54 and retired and working self employed pulling in extra money for my project.

Also as a side note and after following many forum builds ...Life gets in the way!  See it all the time young men selling their classic  car/project because of divorce, children on the way, wife pressures, Moving, No place to store etc etc.  Don't mean to discourage you.  Do you have a mechanically inclined relative to help you? Has a shop? lift?  air tools?  

Try to look forward to the end result and image how you will get there.  Can you put 2 to 3K a year into a project?
Here's a link to my build http://www.torinocobra.com/forum/viewtopic.php?f=14&t=27080

Just curious. What was your decision on the car?