Re: 1988 bayliner
To do it right, it takes a lot of work to repair the rotted floor (and stringers for sure) and seats etc.
On the other hand, there is no law saying you have to do it right. Lots of people just slap a layer of plywood over the rot and keep on boating. The 2.3L ford engine is durable, not smooth or powerful. And the cobra outdrive can be reliable but finicky. So if you are handy, it wouldnt be a bad project to work on and improve to whatever level you prefer.
I know a local guy at my marina with a beat on old open bow, totally junk. he just uses it to fish - ruined floor, runs fair at best...but he keeps fishing .