Uh...... $28K wouldn't get you very far if you were going "full-MAW" build on a 1st Gen.
Don't get me wrong, this CL dude is smoking crack at $28K, but just to get a 1st Gen fully rust-free, straight and in final paint is easily going to run you $15K (not including the purchase price of the truck)
After that.....add your "fun stuff" like 4-link, BBC, EFI, roll cage, 1 Tons or Mog-9s, etc. etc. etc......but those are all big-ticket expenses, and even with "free labor" it all adds up to a big number.
Unfortunately, getting a truck to be "rust free" is the hardest and most expensive step... it's rare to find a truck for sale that has had proper rust repair completed. Usually, it's just a lot of bolt-ons and maybe a quick-and-dirty spray job to make the truck look good enough to sell.
-G