I don't think that's a cheap beater instrument. Likely worth some money - though not Martin/Gibson money....
It looks like quite a large project. The neck will have to come off. I can't tell how the top and back to body joints are doing.... There are certainly plenty of cracks to deal with.
But it looks like you can certainly work with what you have got and conventional repair techniques will restore it. It's not like the top or sides are shattered and much of it is missing.
First off though - get those strings off. This instrument was designed for gut strings and can probably handle nylon.... Steel is another thing altogether.
Be sure to post pics of the progress..
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