What does everbody think about buying a salt water boat? I am looking a a 1999 Formula 353 on Long Island, NY. It also has bottom paint. Should I look closer or stay away? What is the concern with these boats? Thanks for any advice.

Stay away! all you are buying is somene elses problems.

I agree, There are so many freshwater boats for sale I am sure you can find a freshwater one. Salt is brutal, I have done much boating in both and salt is relentless and seems to damage everything. Clean Freshwater boats can last 20-30 years with original manifolds, drives, etc. This is simply not the case in salt without much added work. A five year old freshwater boat with under 100 hours is basically as good as new, a five year old salt boat with under 100 hours will have much wear and tear.

I was at Ocean Outboard in Nov. and saw that boat. (only from a distance though) Although for the most part I agree with what others have said, some Salt water boats can be worth the effort. O.O. claims to wash and flush the boats that are kept there. The 353 has bottom paint and probably was kept at a private dock. The asking price seems low, but other 353's are going for 85k. I remember talking to a guy that was considering a "very clean" 353/ 502 that Lake Cumberland (i think) had that he said he could get for 80k. A local guy bought a 353/ 502mag and can only muster 68mph out of it. Bottom paint will slow it down a little. I think there are better deals listed here in OSO classifieds.
http://www.offshoreonly.com/esvon/page-121.html