$1,200 budget?
I am no "Bronco Coinsurer" by any means as some others on here are, but you are limited on what you will find and the condition.
Check the prices on different parts and compare to what has already been done on Bronco's you find. Buying parts really does add up quick on these things. From what I have found, a fender for a '75 Bronco is $150, but for a Bronco II it is $25. I know I don't have the amounts correct or the difference, but the Early Broncos cost more to fix up than other vehicles.
Good luck on the hunt.