We have a long string on repairing the Avion TC as well as another string on the Amerigo. In almost every case water leaks and rot were the critical issues.
The thing that must be attended to first, in my opinion, is safety. For instance, are the jacks secure in their fastenings? Then overall structure. You have to make the assumption that the frame is compromised by the water. Finally, cosmetics. Stain and other discolorations on the wood or laminates.
In my experience, if you follow a careful set of priorities it will allow you to make critical decisions sooner rather than later...including whether to finish the project or not.
Finally, as I'm sure you know, restoration and repair is not for the faint of heart. It takes enormous time and often money.