More on spending money - Do not bother painting this frame unless you have some serious emotional attachment to it, such as it was given to you by your wife when she first met you 25 years ago. Many newcomers to the vintage bike world think of restoring a bike to its original condition or appearance. That is usually a bad idea unless the bike was particularly noteworthy and the frame needs paint for protection. We euphemistically refer to scratches and faded paint as patina, but those defects do represent its history and experience.

That's all fuzzy aesthetics. The real factor in your case is expense. It isn't worth paying someone to paint it because it isn't really special. Your body-shop friend may do it for free but painting a bike well requires prep work too. Besides the usual paint prepping, you or he will have to protect the threads of the BB and the surfaces of the HT and fork crown. You'll probably want to remove the entire HS, then re-install them. You'll need to pull the drive-side (fixed) BB cup.

Just clean up the frame and do all that other stuff. Then ride it.