Some are just accustomed to buying instead of repairing. I for one would not have taken on such a project but a free boat is a free boat. Jrowan just likes to put it bluntly. My project boat is in much better shape than yours and he told me not to bother either.
I don't mean to be blunt, just honest. I am not trying to discourage anyone from restoring a hard luck case, I just don't want anyone to get sick from doing so. I am a practical sailor, & have restored many sail boats in the past 20 years, & have done so the hard way, through all my own work, blood, sweat & tears. I am smarter for the knowledge, but I know how much dedication & bucks that it takes to take a boat like that from the brink to sailing again. A lot of people go in with rose colored glasses with romantic notions of sailing round the world, but never get out of the marina, cause they have so much damn restoration work to do.
Black mold is a particularly nasty substance, & has made a few of my friends in the trades very sick. I always think its better to be safe then sorry, but to each their own.