I came close to buying a "project boat several times. They were always missing something important. over several years, I kept watching a O'day 222 sitting on its trailer in a warehouse parking lot priced at $5,999. I knocked on the door several time until someone opened. "Yes the owner really wants to sell it. Let me call him in Florida." "He said he will take $2,500." My reply, "Ask him if he will take $2,000." "Yes that is fine, by the way here is the long shaft motor and all the sails." Heck it even had the little booties for the winches. Deals are out there. It takes a little searching. and persistence. I was able to get a beautiful boat for the price of a junky used car. I think the advice not to buy a project boat for your first boat is very sound advice. I am enjoying sailing not working on it.