In my search for a 35/38 I have found a late '90s 38 with extremely low hours (under 40). The boat itself looks like a time capsule but I am worried about what problems might be caused by being so low hours??? Any thoughts????

If it has been sitting a while may have to totally drain the fuel tank get some good gas.

Batteries dont like sitting unused for long periods of time

Probably should change the engine oil and drive oil no matter how low the hours are

find someone who has a borescope to look inside the motor . Iron parts such as cam , cylinder wall , rings etc really need lubrication to keep from rusting . If there is corrosion on the cam you will wipe out the motor before you know it ..

I've tore motors apart that came from junk cars that have sat for yrs and they still looked untouched. But once the motors where opened up, they'd rust within a week.

Is that the red and white Lightning in Ohio?

I would confirm that the hours are accurate and nothing has been changed / altered.

nope

The first internal parts that come to mind are frozen piston rings on the pistons. Next I would be worrried about the seals they get hard and dont seal after time with no use. Batteries and fuel are done and maybe belts and hoses. The question is was it started up at least a couple times a year and ran a little or are we talking about a boat thats been untouched for years???

Ah, you guys are scaring the guy.
My boat sat under cover for 2 yrs to the month without being so much as turned over. Got the need for speed so I hauled it to the lake over the 4th. Fired right up and ran like it's never been shut off. Just filled it up and all was good. Impellors were my only concern.

True... I agree just depends on how long its been down for. By all means if the price is right get after it!!