I’m going to take a wild guess (for because mine was the same) that the area in the picture is just forward of the steering box. If so, or not, here’s what I did: I got luck and located an 01 in a yard that had the front sheet metal, engine and everything else affixed to the left frame rail. Sawzall off the front portion cutting just aft of the steering gear $25!!! Drilled around where mine was rotted just on the bottom seamed area and a bit on both sides of the rail till I hit sold metal then taped off some straight lines about 1” up from bottom along the rail and about 1” beyond sheer I hit sold metal, cut out with a P-grinder wheel. I used the piece I cut out as a template on the acquired section of rail and cut 1/4” more than I needed. Cleaned up inside of my rails, etch prime and Eastwood internal frame coating. Fit the piece to the frame and frame to the pice - but welded, re- coated internal after new piece welded in, cleaned up welds and etch prime and painted external of frame. That was a few years back and it actually still looks good. Mine was a bit tricky as it was close to the tubes that run thru the frame for the steering box bolts. My suspicion as to why that side rotted and not the right side = steel tubes for steering box bolts.