I am sometimes a little skeptical or frustrated when I read the aticles and bits of advice that say join your local club and network to find xxx car.
Reason being for me at least that living the the relatively sparsely populated midwest it can be hard to find the semi rare stuff locally no matter how hard you try.
But the cheerful Sprite is a different story, especially box Sprites and Midgets. There are probably several close by, maybe even for sale, join the local AH/MG or LBC club and go from there.
Sprites seem to have followed the rest of the car world and people are paying goofy prices for not so good cars on E-bay, but there are still good deals on local sales if you look around and network a little bit.
What is true of all collector cars is even more true of sprites, bodywork on a sprite costs as much per hour as bodywork on a jag or big healey, but new and used parts are plentiful and relatively cheap.
The issues/parts I would worry about on purchase rust, tranny, seats (expensive to fix right if well worn), front suspension (expensive to fix right if well worn).
The rest, including motor, is pretty much plentiful and easy to replace parts, both new and used. Good luck and have fun.