I bought a bike for $30 from craigslist. I currently have a folding bike and eventually want to upgrade to a road/hybrid in the Spring (haven't decided yet)

In the meantime, I found this used Specialized bike on craigslist for $30. It's an older model and needs new wheels, tubes, new brakes, and grips. I do not want to invest a ton of money as I'm eventually buying a brand new bike. But for now, can anyone recommend some inexpensive parts that I can use to fix this bike up? Does anyone even know what model this is?

This is the picture from the actual craigslist ad (that is definitely NOT my basement). I didn't have time to take pictures of it myself.

Thanks in advance for your help.
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