That's a good question. I assume you are planning on doing whatever needs to be done to it to get it in good order, so here's the direction I go with a ground up restoration:
PLAN!!! Start with a plan. Planning will help keep you on track, on task and on a budget. The better researched, more detailed and more flexible a plan the better. I run both an analysis of how much the parts and labor are going to cost and how long each section will take.
Here's how I divide and analyze my costs, as well as the steps I do the work in:
Supplies
Paints
Sealents
Fluids
Cleaners
Assembly Lubricants
Body
Panels
Doors
Glass
Trim
Fasteners, Dowels & Bushings
Gaskets, Seals & Plugs
Work
Chassis
Suspension & Steering
Brakes
Wheels & Tires
Fasteners, Dowels & Bushings
Gaskets, Seals & Plugs
Work
Electrical & Vacuum
Battery, Wiring & Vacuum Lines
Lighting
Body
Chassis
Interior
Engine & Drivetrain
Fasteners, Dowels & Bushings
Gaskets, Seals & Plugs
Work
Interior
Trim
Panels
Seats, Upholstry, Carpet & Headliner
Fasteners, Dowels & Bushings
Gaskets, Seals & Plugs
Work
Engine & Drivetrain
Fuel & Induction
Valvetrain & Heads
Ignition
Exhaust
Shortblock
Oil
Cooling
Engine Accessories
Emissions
Transmission & Driveline
Rear End
Fasteners, Dowels & Bushings
Gaskets, Seals & Plugs
Work
Then I figure out how long each section will take me. Also, I make certain I get a detailed catalog of photos of the vehicle before I start disassembling to begin with the body work, then I make certain each part is cataloged and stored safely so the re-assembly goes together as smoothly as possible.
Hope that helps.