Looks to be a diamond in the rough.
This beauty I pulled from under a 4 foot high pile of old rotten lumber behind my ole-mans place. No tires and nothing that resembled a trailer. I rebuilt it over 2 weeks in my front yard. The day i finished it, a guy stopped buy and offered me $500. Said he drove by everyday and was watching my progression. I never even got to tow it down the road once, but man, it turned out nice.
My point being, make it what you want it to be. It can be done. Great job so far.
Before (I put the 2x8s on just before this pic)
http://i.imgur.com/sFH5zv2.jpg?1
After
http://i.imgur.com/cXT4871.jpg?1