My experience is taking a 12' Beetle Cat (wooden cat boat) from the bone yard to a daily sailor.
Is there a set of class rules that the boat would want/need to stay 'class legal' ( I would assume there is) . That will govern some of your approach. There are probably some wooden boat forums that may be helpful in some of the technical aspects of the restoration.
Then there is budget consideration, as I assume that you will have to buy/make the missing pieces. It seems like a fair amount of the standing rigging is/can be aluminum. Do you have a budget in mind? Sweat equity can take one only so far.
It also looks like there is a book or 2 on restoring these boats, if you have not looked into those resources.
The sails themselves will be expensive, assuming that you will have to get sails made. It also looks like part of the keel is missing? It is one thing to be working with a mostly complete boat, but this boat/hull may be far short of that.
Also, the condition of the hull is of consideration - what is usable and what is not. Will you be re-fabricating the ribs of the hull from the rotted remains of the existing hull, or even line drawings. I would think many of the the hull planks may need to be replaced, or perhaps in total. So you may be using the hull and its components as templates for newly fabricated pieces.
Then there are your skills and prior experience or ability to hire craftsmen/women. That sort of plays into the budget question.
If I had to throw out a number for budget, it would be $20-30K to restore the boat.
