Timothy P.: Welcome to the forum
Congradulations on you 'new' Original!
They are a simple, and fairly easy tractor to work on. As has already been stated, you can fix it up, but please do yourself a favor, and get a set of manuals. They are invaluable during a refurb/restoration!
Of the 16 Cub Cadets I have/have had, only 4 of them ran when I bought them
A few years back I bought 9 'basket case' Originals in 3 or 4 months, and in 5 months I had 4 of them up and running. I had to rebuild steering boxes, unstick front spindles, completely rebuild a transmission, and install a center carrier in a rear end that still had a ring gear on it...LOL, and get 2 starter generators rebuilt, as well as going through the tractor..head gaskets, points and condensers, carb rebuilds, wiring (switches, voltage regulators and wiring harnesses), gaskets, adjusting brakes and clutches, and throttle and choke cables. As Bruce said, having some parts tractors is a wise decision.
I still have 1 Original that is a runner (I sold the other 3 running tractors), 1 98% complete parts tractor, and 1 50% complete parts tractor that is dismantled..along with a couple of good transaxles, a complete non-spring trip blade, and 3 mower decks. The other pieces/parts were either sold, or scrapped.