New to Buying/advice for a Phono collector"virgin"

I am have been pining away for an old stereo system so I can play my old albums and maybe start collecting. Don't have a lot to spend and have NO technical knowledge whatsoever so I am a bit skittish to jump in. I have found an old magnavox that may work for me (price seems right) but wanted to know if anyone can help me with any advice...thing to avoid, things to look for ...really any advice would be appreciated. I am attaching a picture of the unit. Thanks!

Those pictures really don't give anyone a clue as to what is needed.

IF...... it's a tube model, it'll require a mandatory restoration - a one-time expense.
Same as if it is solid state (Astrosonic models) - again, a needed one-time expense.

Depending on the condition of the electronics - whether the unit was used/abused, and/or used in poor operating condition, the costs involved to bring it up to reliable and safe operation will vary from 200 up to 500 bucks.
Consider it an investment, to insure the longevity of it.

Scary? - sure, but you're talking about a 50 year old neglected and most likely never serviced/maintained console.

They ALL need restoration by now, every single one of them.
Sorry, but there are no "cheap" alternatives.

Thanks for the advice.