Looking at a 353, not real familier with formulas. Any pointers of specifics to look at? I have been told that you don't have to worry about rotted stringers or transoms because formulas don't have wood in them, is that true?

stringer system no wood .. transom does have wood ... get a moisture meter and check out around anywhere trasom is Pentitrated .. look for thread on here about hull issues ..
check for cracks ..

Good advice ^^^.
Search OSO, there’s a couple of threads about Fastechs with issues. Deck and hull separating, and another instance of structural problems (I think between the hull and liner) concerning the use of Plexus as an adhesive. They may be isolated examples but do some homework and you’ll be an ‘educated buyer’.
Nice boats, just make sure you get a good one.

RR

IMO......Formula may have a safety isssue with the hull/deck bonding.