Expect the fuel tank to be cruddy and the main fuel pump to be cactus. The in-tank pump and fuel gauge sender may be very second-hand.
At minimum, expect for fork out for replacing these, then also expect to do a Stage 0 with new hoses, thermostat, fuel filter, leads, plugs, dizzy cap, timing belt and tensioners, etc. Vacuum leaks affect how K-Jet runs. Couldn't hurt to give the injectors a clean.
If you mean flame traps by fire traps - yes, they have them, and you do need a clean flame trap. If the rear main oil seal has had a lot of crankcase pressure on it over a lot of time, it's probably fornicated. If you have to change it, it's worth doing the front crank seal at the same time. But you may be lucky and a clean flame trap might make the oil leaks go away.
Check the wiring loom too, these were in the era of having the wire insulation plastic that crumbles, particularly in the engine bay. Ignition modules and dizzy hall sensors are usually reliable, they either work 100% or not at all.
IMHO body repair is more difficult and costly than these types of mechanical repair.