You'll probably eventually discover there's a lot more wrong than you have found so far so any saving you're making now will probably be spent trying to put it right. How do you know the frame isn't bent? If it's been neglected it probably won't be much good. It's better to buy a good bike in the first place...
As a first bike, you may be better off getting something that's easier to learn with though. For example, a Supermoto will teach you more, or even an off road bike so you can learn how to fall (or not) on dirt - which won't be as unforgiving as a road surface. You will probably drop your first bike at least once, so one with an expensive fairing might not be the best choice IMHO.
Hope it works out for you - whatever you decide to do.