Look at a lot of pictures of '80-'82 FLTs. If you really like the overall look of it, maybe. They're oddball models, so some of the stuff you need to keep it going (and stopping) is hard to find. They have their weak points, but most old bikes do. As far as chopper or bobber or even stripped dresser material, it has very little potential. If you don't like it as is, forget it.
Besides, winter is coming and you live in Indiana. If all you've got is one crappy car, I can almost guarantee you'll get stranded at least once. And it won't be at a convenient time and place.
If I were in your shoes, I'd skip this deal and wait for the right FLH or FXR.
edit: Just read about your survivor roller. The engine of the FLT will bolt into a 4 speed frame. It's just a regular shovelhead engine and all the rubber mount stuff is bolt on. But the transmission won't work in a frame that was originally set for a 4 speed. Besides, if you put that engine in a survivor roller, you won't have an '82 any more, just a bike with an '82 engine. And wasn't '82 part of the point?