If you haven't already done so, a couple hours time from a qualified marine surveyor
would likely be well worth the cost.
Knowing that this would be just a condition survey
and owner recommendations (i.e., no written report) he likely would charge you very reasonably - couple hundred dollars maybe? If you are new to boating
and sailboats, this might be the very best first move. It would help you to prioritize your efforts, and expenses.
As others have said, once you have determined its seaworthiness, go sailing for a while. Maybe even just sail with the mainsail
for a bit, then go to a working jib