We have been doing heavy equipment restoration for many years now. There is alot of sanding and priming and painting involved the same as when restoring a classic car. Here you can see an old 1966 Case backhoe we restored before and after pictures.
On that same page are some before and after pictures of rustholes and bodywork that were done.
You can work on more than one restoration project at a time so you don't get bored working on the same thing all the time such as a antique car and a peice of heavy equipment. It seems we always have quite a few restoration projects all going on at the same time. This way after all the sanding is done-the primer can be sprayed on everything at the same time and then the paint after that. Of course I recommend getting all the diesel engine work done first since it creates such a mess of oil and grease.
I find mechanical and engine parts online and have a list of places I call when looking for parts.
We also have places here locally that make hydraulic hoses which seem to need replacing on all old machines since the rubber rots and breaks when they have been sitting a long time.
Before starting on any type of vehicle restoration project if you are planning to sell it for a profit be sure the amount of time and effort involved in restoration will be made up for. I have heard many times of people feeling they were not getting back what they put in-in labor when selling a peice that they worked so hard to restore. Be sure it is really worth restoring first.