It totally depends upon your level of skill, and/or your budget. You asked about the Azusa kit, and the answer is yes, you can get that frame rolling with one. The 5" Azusa kit is $297, and you still need and engine and a clutch.
The level of success depends upon your skill level as a basic mechanic and light fabricator. If you can't do those things, you have to pay someone else to do them. Most of it is common sense, and that puts about half of humanity into the realm of having to buy rollers and slap on running used utility engines, or the readily available OHV engines from Harbor Freight etc.
This particular frame is not worth "correctly" restoring from a completely financial, or "investment" standpoint. You need to repair the forks. This is easily accomplished with a press, or other creative methods. That fork stiffener welded between the legs is not original and should be removed prior to bending.
You should have stated in your original post what your intent with a mini bike was, and what your budget is. But yes, it is very "doable" as far as I am concerned, and I've restored a few of them. These make fun projects for young, or old on a budget, and depending upon your goals, this would be a very worthwhile project. Feel free to PM me if you have any further questions, and by all means, call OldMiniBikes Warehouse Help line if you are serious. Eric knows his stuff and will direct you with solid advice.