The
fiberglass MIGHT be ok. Anything else would likely be a total loss.
Remember before you go any further: The
hull of the
boat represents only about 10% of the cost of the build. So if you get the
hull for FREE, you have only saved 10% of the cost of the
boat.
What you propose is a slow and painful way to the poorhouse, and you are highly unlikely to end up with a useful boat at the end of it.
If you want a sailboat to actually go sailing in, buy a boat that is ready to sail. If your hobby is not sailing, but boat
restoration, then sure, get a hulk and
rebuild it. Do not expect to save
money, or get out on the
water any time soon.