I want to buy a 1960's Ford Mustang. What do I need to know?

I have a budget of about 15-16 thousand cash (not including shipping cost, or the cost for having it looked at and verified by a reputable mechanic), and I don't want a fixer upper. It doesn't have to be a Shelby, or a boss 302, however, if possible I'd like it to be a v8. I'm not really concerned with it having all original parts, just so long as it runs fine, and has minimal issues. I have found plenty in my price range, but I'm not very mechanically inclined, so I don't really know how to spot red flags, or what to lookout for. So I guess my question is; 1. Am I being realistic? 2. If no, then why not? 3. What should I lookout for? 4. And lastly, what do I need to know in general?

If you aren't mechanically inclined, you should take the car to a mechanic for an inspection BEFORE you buy. It'll cost around $100, but is well worth it. If there are major issues with the car, you are out only $100 instead of thousands. If there are no problems, you just bought some cheap peace of mind.

Test drive the car before you do this. Obvious driving issues should jump out at you before you spend money on the inspection.

By the way, I'm super jealous you are getting a '60s Mustang. Nice choice!

Always buy locally. Long distance car purchases have a potential for problems with the title, liens and ownership. You can pick your own trusted local mechanic to evaluate the car. Just remember that buying a used car, even this one, you are potentially buying someone else's problem child.