Sunkist,
First, welcome to the repair side!!! You are in the right place. Folks here LOVE the featherweights and we love to help.
Second, I would like to echo the "Thanks for what you do".
Third, I think you got a great deal and it came loaded with good karma...
and finally, the really good news is it is almost impossible to have a Singer from this era that cannot be fixed.
Patience and posting pictures for us to see and try to help is all that will be needed.