1989 White C4 Corvette

[Colin]

I do have a workshop and lifter, but not much mechanical knowledge.

Would not do it then.

1. my experience with the tires is that only goodyear produces tires with the correct size and a similar looking tread. And they are hella expensive (correct me if I am wrong)
2. already mentioned before
3. can be expensive and time consuming. Often it is hard to reach the parts you need to work on under the hood. 
4. Potentially you have to remove the trans and disassemble it. 
6. pricey

all in all I would say its cheaper to buy a working vette with less milage.