I would never take this project on. However, I don't have the same skills you do and I am inherently lazy.
My only concern is the thought of borrowing to purchase the boat. To be safe, I would count on spending another $10k beyond the purchase price. If you don't have to spend that much to get it operational, then that is a bonus.
I do like the looks of the boat and it could be a great boat for you to own and enjoy.
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