General: Where do i start?!?

I have this cannondale 10 speed that i want to "fix".. and im not too sure how i should go about starting the project.
I would like to change out some of the parts before i fix the gear, i just really want to know if it would be possible to "fix" this bike without too much hassle.

thanks in advance,
yoke

get a steel bike and start from there. it's gonna be a lot harder with the vertical dropouts

That's not the right frame for the project.

I wish I lived closer so I could make you an offer.