I almost bought a near perfectly maintained 1979 40' marine trader (list $76K, contract for $65k). Financing fell thru. Now looking at a craigslisting for an almost same boat for $20K. No supposed soggy hull, and no teak decks. However, leaks where the topside mounts to the deck, so that walls will need to be torn out, and replaced. Supposedly, $5k will do the trick. The question is however: will i continuosly throw good money after bad (some say $50k - $150k over the next 10 - 15 years). The good news is i don't have to worry about getting a loan, and I'm not a perfectionist, and am quite handy. Single diesel has 3,000 hours which sounds legit. Since I own a 2670 Cruisers, this trawler is strickly for living on and using as a second home. also, heard about iron tanks, but $5k ish will get me a alt to pulling tanks thru a hole in the hull. Where does the 50-150 numbers come from, assuming good hull core????