I'm quite looking forward to the project, especially this being my first one. Not to mention the fact that it was free will give me some bragging rights when it looks like a brand new bike!That’s very similar to the sort of bike I restore. My advice would be to strip it back to bare frame. You can then carefully check each component on the bench and either clean/restore or replace, you’ll be surprised how well some of this stuff will come up with some wire wool and WD40. I would then replace all the cables, BB and headset, I would also strip out the wheel spindles and replace the bearings.
You then have the comfort when it’s all reassembled that it’s as good as a brand new bike. There is no greater pleasure than riding a bike that you have built yourself.
Where's the best places to buy parts and such? I tried a local bike shop but I'm pretty sure they ripped me off for my tyres and with covid they're a bit limited.
As above, I need a few tools as well, I wasn't really prepared for this just kind of making it up as I go along!
I had a quick peek at your Raleigh Royal 531 project thread, I saw that the Reynolds sticker is all scuffed up, wondered if you had found a solution? Just because I saw you can get replacement stickers from Reynolds on this link, you just have to email them. Or check out their approved distributor (H Lloyd Cycles).
https://www.reynoldstechnology.biz/faqs/general/
https://h-lloyd-cycles.myshopify.com/collections/reynolds