What do you think ???
I think I know how you can make a quick $5,000. Send me a PM for details.
Seriously, sorry for the loss of your friend. Not the ideal way to join the ranks of Pantera owners.
As for the car, I take it the car has basically been idle for 34 years!!!???
First, as it is the most expensive part, I am concerned the ZF transaxle may have suffered internal rust in the high east coast humidity, even in a garage. Stored transmissions really need to be rotated every few months to keep the internals oil covered. Only way to inspect is to remove the bottom cover plate, and that can only be done after the trans is removed from the car. If you go this far, then you should safety wire the ring gear bolts, a known weak link.
Next concern is rusted brake lines, both Master cylinders, clutch slave and the four calipers. All that can be flushed, inspected and rebuilt for reasonable cost.
I'd replace all cooling and fuel rubber lines, and the carb may need a rebuild. Engine needs all fluids drained and replaced. I'd pull the plugs and squirt in some Marvel Mystery Oil in each cylinder prior to trying to start the car. It will serve to help loosen and lubricate piston rings. Fuel pump diaphragm may also be found to be bad and leaking, sometimes directly into the oil pan.
The tires are only good for restoration moving - I wouldn't trust them above 40 mph.
Drain gasoline from bottom plug on tank. Plug fitting is known to be very tight and brute strength trying to remove it can rip the threaded boss right off the tank. Penetrating oil, and an impact wrench, set to a LOW torque, will usually gently bump it loose. The tank can only be removed with the engine removed, so hope for a rust-free interior.
Rubber suspension pieces are available at reasonable cost if needed. Get car off ground and check to see that the a-arms are moving freely. Bottom, rear pivot shaft is prone to seizure.
These cars rust from the inside out. There are standard drain hole locations that Ford/De Tomaso did not provide, mainly in rear frame locations. They need to be added. Put car on lift and attack it with an awl and hammer. Better to find rusted metal here rather than while out driving. Pay special attention to the structures supporting the rear suspension.
These cars are well built and easy to work on. Nothing other than total structure rust-out rings the part-it-out bell. Parts are available for most everything. Help from this site, and others, is just a question away. Whatever your problem, we have probably solved it before. Just ask.
Prepare yourself for ownership of the most user-friendly exotic mid-engined car ever put on the planet. There is an active NJ group of owners. I am sure they will be replying here also.