Hello CD, Almost any marina or boat storage lot will have several boats that fit the "project" category. All will need obvious work and most will need work that is not initially evident to you. The idea of saving money on your chosen hobby by purchasing a boat you can work on is walking a fine line. If you look through the "Search Forums" feature on this site you will see many, many questions and responses on the "project boat" situation others have considered. Read them.
Your budget and your purpose for the boat are both prime considerations. (1) If your budget is X dollars consider buying a boat in that price range that is in sailing condition. (2) If it is your first boat smaller might be better than a bigger boat. (3) In any case if you enjoy sailing your first boat will probably not be your last boat. (4) Buy a good looking boat and one made by a popular manufacturer so it will be relatively easy to sell when you are ready to choose a different boat. (5) Spend the money (lunch and a beer after checking the boat) to have the boat you want surveyed by a trustworthy, knowledgeable boating friend or, better yet, (about $10 per foot) by a certified marine surveyor. (6) If you want to work on a sailboat offer to help someone who already owns a "project boat". Listen to the stories of work done, work yet to tackle, and money/time spent. Those stories will be eye-openers! (7) Consider a trailer carried boat in the 18 to 22 foot size. Big enough to work on and learn some skills, big enough to stay overnight, small enough to keep on a trailer (perhaps at home), cheaper to repair because all the parts/systems are smaller and simpler. Best Wishes on making a choice that will make your sailing time enjoyable. (BTW: We have owned, repaired, sailed, and sold many boats since 1995. Check our profile info.) 31seahorse