Thanks everyone for the advice , we brought the boat home so we could have the shop right next to the boat, we did build a flight of wide stairs to make hauling up equipment much easier. The project started with a gut everything pulled out very carefully as to not damage any of the teak. We will be insulating and all new wiring and pluming, but at the moment we are topside dripping off and sanding and giving the aft area a new look for the sole purpose of water shed and water tightness , after that we want to get her painted she has had 8 layers of fiberglass added to the hull so we want to get her painted while the weather is warm and then put a shelter over her and begin the inside work. So that is my scary story and I will check out leaky trait for sure. And I was also wondering has or is their a Formosa rally ever held anywhere?