Hello Voless and welcome to CK5
First you'll want to inspect the brakes and steering. Belts, hoses, flexible fuel lines. Make sure you have good 50/50 anti freeze (North Dakota you know that)
After making sure it's safe. drive it some try out the 4wd, and then try low range, make some figure 8s on dirt, or not asphalt, listen for any noises.
If everything sounds good and no major drive train components are in need of repairs, change all the oils in the drive line.
Then we should look for anything that has been change by previous owners, sometimes these are good other times not so good.
try every thing lets us know what doesn't work and we can guide you through diagnoses and repair.
list post has a good list of problem areas to check and report back
https://ck5.com/forums/threads/k5-buyers-guide-checklist.276543/
Is this 78 a full time 4wd ? If is factory auto I expect it is full time 4wd.