Re: how much should i pay and what to look for
We almost bought a sail this year but it fell through. I'll tell you what I can:
check the keel and rudder for straight and true; check for gouges or anything that would indicate a landing. If there was evidence of a landing find out the circumstances.
Make sure you know what sails you are getting and in what condition.
Check over the engine, you want to see obvious good maintenance.
Check the bilge for standing water; if possible check the keel bolts.
Look for fiberglass spider cracks around mounted hardware, mast, life lines, etc.
Price can be anywhere, really. I found boats for $2500 that were complete garbage, found $5,000 boats in mint condition, $10,000 boats of the same quality, and $5,000 right in the middle. But that was just my findings in CT; YMMV and I had noticed RI was a bit pricier when I looked over in there.
not sure if this is kosher, but if you go to sailnet forums there is a really nice article on advantages and disadvantages of the types of keels. Nice thing about drop keel is you can sail into shallow quarters and these types of boats generally come with a trailer.
This wasn't exactly what I had in mind but it answers your question:
http://www.sailnet.com/forums/buying-boat-articles/19477-centerboards-swing-keels.html