Aside from what Greg said, the real consideration has to do with the condition of the boat beyond the hull. Hulls tend to fair up pretty well to all sorts of insults and neglect. The deck, rudder, cockpit, coamings, and bulkheads - those are the things that can make this more trouble. Many of these areas are wood-cored - they have a thin layer of wood between layers of fiberglass. When water gets into that space and the wood gets wet, it does damage that can become a huge project to repair.
You will want to look for "soft spots" - areas where the wood core is damaged. This is frequently done by sounding with a mallet or screwdriver handle and takes a little bit of practice to get a sense of what a healthy area and a damaged area sounds like. Not hard to do, though, and there are plenty of decent YouTube videos on the subject.
You'll also want to look at any structural wood like compression posts or bulkheads. Look for evidence of water damage.
Carefully look at each place something is attached to the deck or cockpit. Look for signs that the area around that hardware is not sound (such as cracks in the gel coat). For each hole in the deck/cockpit, inspect the underside. This is where damage is more likely to be evident.
Assuming she still has chainplates, remove and inspect them. Do a little reading on what to look for, but the most likely problem is corrosion right where the chainplate passes through the deck. This won't be evident until you remove it.
If this inspection doesn't reveal serious problems, you might have a viable project. But, one very important question:
Is your goal to have a boat you can sail? Or, is your goal to fix up a sailboat? Both are perfectly valid. But, if you just want to have a boat to sail, this will NOT be the easiest or least expensive way to achieve that goal. If you want a project and like the idea of spending 6-12 months fixing up a boat, then this boat MIGHT be viable.
Ignore people who tell you to walk away without knowing your goals, skills, disposition, budget, etc. Some people like to rehabilitate boats that others would have written off, and some people have a hard time understanding that. I don't know you or the boat well enough to advise you about what you should do. I will just say that, you are looking at months of work and likely thousands of dollars to get this boat seaworthy.
Some good pictures of the boat would help the folks here give you some more specific advice.