Timely post. You know, I went through the SAME thing as when I bought my 2520 Parker she had been extensively vandalized with EVERY light, switch, knob, pump, gauge, or wire cut or smashed. Please know you will likely, if ever, only recover 50% of your financial $$ from the boat and none of your time. So, if up for a project? Go for it! I leaned soooooooooooooo much and had a truly custom boat that I could otherwise not have otherwise afforded. Here's how I'd look at it:
Boat needing repower - boat otherwise Turn-Key:
Assume the vessel/rig would be worth an honest $20K on the open market. Assume the street retail of the motor on the back (IF was working) would cost you $4K for a comparable year OB. I can see someone talking you down that $4K plus another $1-2K in rigging and trouble, for having to make the repower. If you can reppwoer to same vintage motor, the repower could just be cost to remove and re-hang the new puppy, plus maybe a System Check or similar gauge, if a year or two newer.
Boat needing repower - boat otherwise NEEDs work:
Assume same honest $20K on the open market. Subtract $Xk for street price of motor as installed, same $1-2K for rigging, new hydraulic steering is $800, plus 4-6 hours to install, if YOU yourself can't do it.
Wiring can be costly. I paid well over $600 in components just to re-do my boat. It was probably 20 hours of work.
Structural or gelcoat repair - again, depends highly on what is wrong.
Outside Labor: For any repairs YOU can't do, assume $75 to $100 per hour for someone else to fix. And remember, a 'simple' 2-hour repair might require another hour or two for a good effective review, diagnosis, and action plan.
Just remember, if you put $15K total into it ... you'll never recover your time and doubtful you'll recover your initial inve$tment, unless you get really lucky! Approach it like the guy on Pawn Stars ... to buy a junker and make her a beauty ... you have to BUY IT RIGHT in the 1st place.
