Looks reasonably well preserved. The co,pression post is a very big issue. Drop the mast
and unload the deck
as much as possible. Possibly you might fabricate a fiberglass
block in place. If it was steel
and it rusted then if you use steel
it will rust, too.
? How does it run now? Diesels are pretty simple. If there is compression and fuel
and air delivered properly they will start. Consider adding a simple mechanical fuel
trap to keep water and some particulate matter from even reaching the filters. If you will use the enfine a lot, think avout your filter costs when deciding whether to stay with the current
setup or change it.
How you equip your boat depends a lot on where you will use it. Think about how rhe boat WILL be used and dont spend money
on stuff you might need for a cruise
that might never happen.
Try to hook up with someone at the marina you intend. to use. You. need to try to get some crewing
time in. Most places will have beer
can races on Wednesday late afternoon or early evening, weather
permitting. Usually the bigger boats can use bodies just to hold rhe windward rail down. You will learn a lot just being there, observing, and scrambling to the opposite side when tacking. Not my cup of tea and maybe not yours either but it is an easy introduction
to boat handling and it doesnt cost anything.