One of the biggest problems with the salvage car will be when you decide to sell it. I did what you are thinking about doing with a very minor damaged salvage car. You will be absolutely chewed up by any potential buyers. Then many won't be able to finance the car. I think most of these cars are getting bid up too high to have any "savings" in there compared to what you can buy that's already been rebuilt.
This car will sell for $14k-$17k I'd guess. Just with the "used" clams you dig up you'll be into the car $20,000 before paint work and who knows what else is needed.