GO!
I did this when I was in high school in 1988 I bought a white 1981 Rabbit 4dr at a gas station near my house. I took it home and put it in the paper for $1900. I sold it in 3 days.
Made $1,500 in 3 days. No wash, no nothing. Keep it up.
Pick yourself up a Black Book (better for West of the Mississippi) and find a local dealer to give you some old auction reports. You will get a good idea what to pay for stuff form the auction reports. You should have no trouble getting $7000-7200 for that, check KBB.com.
