User 'er up and wear her out!
Bwana, you're not going to make a million bucks on your little inheritance but you can have a great time with her knowing she didn't cost you a dime and you can't make any mistakes with alterations that mean much to your pocketbook. Why not sail her till she turns to fiberglass jello? Enjoy the ride! Gunk on the hull isn't too hard to get off and bottom paint won't be too hard to put on--figure around $100 without barnacles and maybe twice that if you have crusties and need to do some fiberglass repair. If you have a yard do it all maybe $500. As far as the keel conversion goes, if it was built as a fin keel I would say leave it alone. If it was originally a swing keel and got glassed over there are things that could be done, probably none of them worth the effort unless you inherited a trailer with the boat...
