Just to be down and dirty right now, there is probably a fair amount of attention this car will need, but you can handle that after you start bringing in some (more) bucks. Weak spots with these cars, at least of your (and my) vintage included the cooling system, by that I mean not only the water pump, but also the radiator. The problem with the pump was the plastic/ceramic impeller, which you may well have, and which needs to be changed out (it's a DIY job) even if this isn't the cause of your immediate problem. The radiator is prone to break at the connections with the hoses (trust me on this), and I suspect that's where your problem is now, with the neck fractured off in the collar of one of the hoses. The radiator is also a DIY job, especially for someone with your background. Check the Knowledge Base link on this site, as well as the tech advisories at Pelicanparts.com, for some step-by-step instructions on these projects.