Re: to restore or not
I am of the opinion that, if you are on a budget, the only way to know you have a great one is to buy one cheap in need of rehab, or already have one needing some love, and redo it yourself. I'm looking at around 1500$ in rebuilding supplies, not counting trimmings like hydroturf and such I have in mind. Then you will know the boat inside and out. You will know where every stringer is, and exactly what is below. You will also not be afraid to modify and cut as you see fit in the future. Heck, you built half the thing!
I also don't necessarily agree its senseless to have 5000$ in a boat you couldn't get but 3500$ for IF you think it will suit your situation and you'll keep it for a while. You'll get your money out of it in trouble free use and peace of mind, in my opinion of course

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As mentioned already though, only you can decide if its worth it.
You just can't mind putting in some blood sweat and tears and have her out of commission for a while. This is speculation, as I'm not done yet, but I imagine it will be worth every penny and every ounce of energy I have put into my boat when I get to hook a board up behind her

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A member on here likes to.poke fun at me because I bought 2 rotten boats in a row. The first one had a very obviously gone floor, but I can fix that right? Did get a black Max 150 out of it tho. Then I decided to spend a little more and get another boat instead of restoring the first. Got the same exact boat only I/o and witb a wake tower. Well that's the one I am rebuilding.
See its difficult to tell sometimes if its rotting. No one is going to let you drill holes in tbeir boat. Someone put a floor in in mine a few years ago it looks like over wet foam and bad stringers. I stomped all around and bounced on the outdrive. As far as I'm concerned that test is useless. They glassed the floor in, but poorly.
So unless you spend quite a bit on much newer, you might just get another headache.