I want to buy a 1960's Ford Mustang. What do I need to know?

I have a budget of about 15-16 thousand cash (not including shipping cost, or the cost for having it looked at and verified by a reputable mechanic), and I don't want a fixer upper. It doesn't have to be a Shelby, or a boss 302, however, if possible I'd like it to be a v8. I'm not really concerned with it having all original parts, just so long as it runs fine, and has minimal issues. I have found plenty in my price range, but I'm not very mechanically inclined, so I don't really know how to spot red flags, or what to lookout for. So I guess my question is; 1. Am I being realistic? 2. If no, then why not? 3. What should I lookout for? 4. And lastly, what do I need to know in general?

Read more: I want to buy a 1960's Ford Mustang. What do I need to know?