I will echo others comments; this particular canoe appears to need more than your enthusiasm. However, don't let that deter you from pursuing the effort to acquire and restore a wood/canvas canoe. There are many of them out there for little money which don't require as much work to restore. Hopefully you can put this one aside in a protected space and return to it once you have a bit more experience.
I'm currently on my fifth restoration, a 99 year old Old Town canoe which needs a ton of work- stem repairs, new decks, all rib tips, one rib repair, the removal of all planking for cleaning and re-attachment, some planking repair, inwales, outwales, thwarts, seats & caning, canvas, paint & varnish. Quite daunting if you look at the project as a whole, but manageable.... a bite or two at a time. If you're going to do this you must have a dedicated space in which to work for months (years?) and a familiarity with woodworking. None of the work is overwhelming, but the scale of it can be.
As others have advised, start with one which might need a little planking repair and canvas, paint, & varnish. Beware though, you may become afflicted with an obsession with these canoes; but it's a rewarding one. It's quite gratifying to splash and paddle one of these canoes, especially one you've resurrected yourself!