Re: Hello Boat damage repair
This may be some the best advice your going to get. Spend the money get a boat that runs and get out on the water and enjoy yourself.
With all do respect to take a boat from that condition to seaworthy operation is most likely going to cost you way more, and mean way more in materials than it will ever be worth when your finished. Add to that your time invested when you could be out on the water relaxing and it's just not worth it. If your looking for a hobby to keep you busy then go for it but if youre doing this to get out on the water cheap go another way.
If you move forward check that engine and drive, hulls are a dime a dozen, the engine and drive are what are worth the money. OMC Cobras didn't always have the best reputation and if the boat has been sitting plan on doing water pump, impeller, and seals not mention at least a few other things you didn't expect. If your using the same cooling system for the engine, check those manifolds and risers if they haven't been done in the last 3-5 years in a salt-water enviroment change them. Shift and throttle cables may also need to be done. Then figure on things like new batteries, running lights etc. Add to that all the gear you will need to buy that may come as bonus with a good used boat and the costs keep climbing. Resin and cloth add up fast too, and when you finish you still need to decide between paint and gel coat. Then there is upholstery and canvas and the list goes on. When youre done your going to have a boat that is worth what? Check the year its the last 2 numbers of the HIN located on the back of the hull. Then book it on NADA. If its an 88 it may show $4000.00 on the books,if it's a 78 then it may hang around $2,000.00 and remember most things don't sell for book value.
My point to all this is why not save up buy one in running seaworthy condition. The cost will be the same and trust me you will still have plenty to spend your time and money on just in upkeep and maintainence.
Good Luck.