So I'm considering purchasing a 97 fountain 29 fever local to me that has been partially sunk meaning the mercury 500efi in it is not running and probably no good and useless. The electrical systems are all still functioning from what I can tell with powering it up with a battery. Gauges move, outdrive and trim tabs go up and down, it's got external hydraulic steering that looks to be in good shape, interior needs redone ( splitting at the seam) and I can get it for $6k. I've got a scarab that needs some work that I'd probably just part out and take one of the gen 6 502's to put in the fountain. Maybe if I'm lucky I can salvage the efi setup from the 500efi to put on my 502 ( i converted mine to carb years ago ) but am I just stupid and getting myself into a money pit?

Transom probably wet, run away.

while the motor is already out, is it that bad to do the transom? Cut away the fiberglass on the inside and all the rotten wood, cut new wood, and glass it back in? I have a friend that mostly does outboard boats but does major fiberglass work. He just recently patched an impact hole in the bottom of a boat for me for only 1200 so I can't see it costing too much if I do most of the busy work and let him handle the fiberglass

Sunk in freshwater or saltwater ? How long was it sunk for ?

I have redone a few sunk boats one of them being a 6 month old Formula 302 sr1 back in 1986. It is a chit ton of work and I would never do it again .

Buy it for 6K, put another 10K minimum in it and then sell it for 8k if you are lucky. And that is using your donor motor.

There’s nothing more expensive than a cheap boat!!

Unless you do all your own work, have healthy financial reserves and patience...run.

Id check the transom with a moisture meter before moving forward, was there anything done to the engine after it was recovered, drain the pan ? pickled ?

I would do it………….. put I like being punished.

Saltwater or freshwater and how long was it sunk ?