I'd avoid the hell out of it just looking at that frame. FL is horrible for cars from everything I've heard.
For a college student with low budget you really need to consider the amount of time and money you'll have to pour into the car in order to get it half way decent. Take a look around some rust repair/frame/floorpan/restoration threads and ask yourself if you can swing it with work/school.
A lot of people seem to forget that once you chop it up and get it half way done, you're not gonna be selling it off anytime soon. Granted I always look for those cars and get a good deal on parts because its just been a garage ornament for the past year due to time/money constraints.
If you REALLY want a Z then just save up pinch pennies get one from a rust free state if you have too, and have something thats not gonna end up a nightmare.
I'm in the middle of a restoration on one of my cars, and in all honesty it would of been cheaper and easier for me to just have waited a bit longer for the perfect car to pop up.
I enjoy the process and do the work myself in my off time (which isn't really enough) but trust me it's worth the wait, cars are an investment.. Dont buy on impulse! Good luck with the hunt