Eddie,
You did not hit the national lottery for a million bucks, but you certainly hit a home run scoring this gun for $200. I would gladly find "one that I could take out and shoot maybe with a better bore" for you to swap for this one! You got lucky. Congratulations. It is unfortunate that the storage conditions have produced the rusty exterior, but as suggested, the judicious use of 0000 steel wool and gun oil will help bring back the gun from the brink of destruction. Do not be overly aggressive, it will never look like new, but you can arrest the active rust.
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If it's made after 1918...it's a reproduction
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