I think the restored AFM would most likely end up the same price as a MM. A project game allows you to have a very nice game when you done, but the expense would need to be checked before proceeding.
New Playfield - $1000
Cab Art and install - $1000 ish
Plastics and Ramps - $500 ish
Boards - $1000 ish
Now you need to locate a project. No dealer is going to sell an AFM project - they are too hard to locate. They would want $3000-$4000 just for a beat up game (could be right off the mark here as I have not seen a project AFM EVER sold by a dealer - but they would want A LOT for the game as they would be losing a lot of potential $ in the "reconditioning" process ).
Worst case scenario - if you were doing the restoration yourself - you are looking at a completely beat up game and then spending $4000 just on parts and labor.