Originally Posted by Narhay

The wheels may be your most difficult challenge. It looks like the rims are rusted on the brake track which means you won't brake very smoothly. You can replace the rims with CR18 alloy rims and new nipples, if not new spokes, but this would cost 3-5* what you bought the bike for. Other rusted parts can be relatively easily replaced if you have a bike coop nearby or inexpensively online from somewhere like niagara cycle. The bike has a couple rough spots but with some elbow grease and a bit of learning you'll do just fine.