I have just come back from cutting up my 40 ft steel
"beast " for the 2nd weekend in row.I was once in a similar position that you are in now -but much more behind the 8 ball.A steel hull
that needed much replating but no one could convince me it wasn't worth the effort.Having said that the hull
was floating and it only cost me $152.Today I sold the steel
plate I had to replate it with and made a quick $1000 profit.The scrap value for the hull
at todays rate will be around $1500-1800 which is why I have bothered to attack it with a demo saw and oxy.!!The old 2 cyl Yanmar
will go into a 27 ft Roberts I just bought as will a lot of other fittings that came with it.
The above is just to give you an idea of what you can recoup by selling off the parts
if you need to in the end.
Luckily I came across a really beautiful 43 ft Adams
that I bought and can put my time into rather than the old beast.This was after I listened to some very good advice here first.I really wanted to rebuild
the old girl but in the end I listened to reason.
For what it is worth take your time and truly consider the amount of time effort and money that you will need to put in here.What you consider is a good deal may come back to haunt you hard.Maybe consider to sell off the parts
and buy another better suited boat ??
Alternately, never be discouraged by anyone if you have the skills, a brave heart AND a very friendly banker or lots of the folding stuff to throw around.
Remember this acronym.
BOAT stands for:
Good luck with it.