Mike - not a big deal to add an outboard
It's pretty easy to add a mount to the stern, and there is plenty of strength but you would want to add some backing plates.
If the 27 you are looking at has the Renault diesel, depending on what is wrong with it overhauling may not be a viable option. Parts are scarce to non-existant. There's a place in England that carries some stuff. If it has something else like a Yanmar you may be able to find everything you need. Other forum members here could probably give you better input on different engines. An outboard may be the least expensive option, especially if you buy a decent one that is used - check Craigslist or Ebay. You also do not want to skimp on the motor mount.
I have a Honda 8 hp on mine and it is plenty of power, you don't need more than 10 hp. I always get comments when I take someone out sailing how well the little outboard moves the boat.
Manny