Hmm? What rust? Look at my thread under body work
Don't Tell Me What I Can't Do-with Photographs. I'm archiving all my body work. That being said, however, I have a garage space, lots of property, and plenty of time on my hands (although no money). Looks like your jack point is alright (mine wasn't), and if it's not to expansive (although it looks like it is), you could maybe just get away with fiberglass patches (consult some forum experts first). Start by tearing up all the floorpan insulation and cleaning off the rust with a knotted wire brush on an angle grinder. It is possible to fix, but it would probably be balls in your situation. Where are you on the east coast?
__________________
1983 240D 3.0T 4-speed manual, now sold
1989 Subaru GL Wagon 5-speed Touring Edition