I just picked up a '77 Daysailer II with trailer for $300, so I'm not too deep into this project. Cosmetically it looks to be in decent shape, hull looks good, no obvious structural issues. The sails, mast, boom, blocks and pulleys all complete and in good shape. The shrouds are good, the forestay is rusty and needs to be replaced as do the mainsheet and halyard, but here's my concern. This boat hasn't been in the water for two years. Been sitting in the previous owners driveway in NW Iowa. When I hooked it up to trailer it home, I lifted the tongue and thought....wow, this boat is really heavy. No light bulb went off at that point. Got it home, tipped the tongue up high and opened the drain plug. It ran a steady stream for longer than I was willing to watch. I have no idea how many gallons came out. The tongue weight is considerably less now. I imagine the centerboard tunnel and pivot bolt gaskets will be a first place to look for the source of potential leaks, but what I'm really worried about is what damage may have been done by holding that much water through several Iowa winters with freezing and expansion? Like I said, I don't see any exterior indications of cracks or problems. What do I need to look for? thanks in advance.