See the secondary brake levers, for braking from the tops of the bars? Those are called turkey levers. See the aluminum disc between the rear cog cluster and the spokes on the rear wheel? That is called a dork disc. See the stem mounted shifters?

OK. These three elements, turkey levers, a dork disc and stem shifters, are the way you can instantly tell that an old bike is a crap, department store ten speed from the bike boom era. In more detail, this bike has steel rims and a cottered crank, also major league crap. It is not worth $40 and personally if i saw it in a dumpster i would leave it there. I would try and find something else.

I think you should just get a Kilo TT and start riding. You have a lot to learn and you might as well be having fun riding a solid entry level bike while you're at it. It's way harder to get all this stuff figured out "in theory" before you actually have a bike to check out.