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If you choose to get this motor up and running, keep in mind this will be a labor ( and expense) of love, you won't get your money back and it isn't an investment. Something some folks just enjoy doing....
Need more pics from different angles, can't tell from what you have posted. Support needs to be all the way back under the transom for sure.
How many bunks and how long and where they are located needs answered, with more pics...
Uncle had one when I was a kid (76 now) and boy was it a gas hog. My guess would be no one wants a motor that old and a fuel hog unless they are looking for something historical to match a boat or something. Might be a fun project if you into that type if thing. Value in my opinion is next to...
Never dragged safety chains but....did pull a trailer for about 5-6 miles with the dolly wheel down on the tongue jack. Needless to say not much of the wheel left....very embarrasing !!
Same thing with a car, once a total loss it will require a salvage title. Some companies will not insure salvage title vehicles. There are some that do so you will need a different insurance company that will accept the salvage title.
When pushing tow capacities to their max, strange things can and do happen. I have always taken 20-25% off those limits and have never had a problem. Been towing for over 60 years and always keep things on the safer side. Had to push a few limits when towing for the company I worked for...
Aluminum us very tricky to weld and because there are many different types of aluminum that adds more dufficulty because you need to know what type of aluminum your welding. Have a friend that is a highly skilled welder, especially with aluminum. That won't be a job for a hobby welder, it will...
Bells and whistles are great when they work, but when they don't....they are expensive to fix. My local Ram dealer says the electric gizmos are the most costly repairs they have on vehicles...as does GM..
While it might work properly, does the float...float...they often become saturated with fuel or get a pin hole in the case of brass floats so they no longer float properly. The older compressed cork floats were notorious for becoming saturated.
I hear ya, helped grandaughter thru her cancer battle during her senior year in school, now, I have surgery for suspicious thyroid on monday. Life can throw you curves. We are thinking of you, good luck !!
What holds the seal in place when removing the lower unit ? If just friction, then Maby replacing it with a new one might give the friction needed to hold it in place.