One advantage to fixing it is you know what you have. Part it out but another and could be in same spot.

That is very true...It's on me as I should have looked at it better when I was buying it. It will be a good learning experience doing the repair. And like you said I will know exactly what's there afterwards.

I had one years back, 550+ hours and had a great time with the boat. If you do follow thru and fix it all up you will not be disappointed with the boat when done. God luck!

Got into it a little more last night.
http://i1377.photobucket.com/albums/...ps606d4cdf.jpg
http://i1377.photobucket.com/albums/...psef813045.jpg
I picked up 2 55 gallon drums so I can drain the tank and get it out this weekend.

http://i1377.photobucket.com/albums/...pse893f9b9.jpg
Cut the bottom off the tank access cover and found out why it was so soft. The front part is still solid so just have to repair the back section . Drained almost 100 gallons of fuel out so should have the tank out tonight or tomorrow.

how is the exhaust blocked off in the corners?

The previous owner fiber glassed in some plugs into the exhaust ports. I want to totally fill them in at some point.

I remember that boat being on CL. Seen it out and about a couple times, too. Definitely fix her up!

I've got a guy that can probably help you with all that pretty reasonably. He did my Formula. Great work. Send me a PM if you want his info.

I'm workin on it...got the tank out and starting to dig out the rotten stuff. If I get to a spot where I'm gonna have someone else do it I will get that name from you. Where do you usually take your formula out at?

So the more I dig the more I find...what a dumb design by not having a drain back to the rear bilge. The wall between the engine bay and the fuel tank is rotten. Then all the little bulkheads forward of the tank are rotten too. I think those are gonna be the toughest to fix. I was hoping to not have to pull all the foam out but looks like I will have to. I gotta get some cutoff wheels and grinding discs tomorrow.