Repowering with an outboard
Riversailor- Have spent too much of my life trying to juggle "limited funds" so I can relate to your problem. Fortunately, the same degree of economic necessity impelled me to learn how to fix things myself, so my approach to your problem would be to rebuild the inboard motor, but if you don't have the tools and the aptitude or the time, then that may not be an option.I spent some time sailing on a friends' 27 ft.boat that had outboard power, and I developed a strong prejudice against outboards on boats that were lange enough to have an inboard motor. In waves, the damn outboard propellor was out of the water half the time. When anyone went up on the bow to pick up a mooring or to raise/lower the jib the prop would be half out and cavitate.For an OB to be effective on a boat your size it should have a fairly large diameter prop and enough gear reduction to allow the prop to operate effectively: the 'universal' props on most outboards don't work very well on a relatively heavy displacement hull as they have too much pitch and are intended to run at a higher RPM & boat speed. Another factor against outboards is their relatively small alternators, which limit your electrical system. On the plus side, if you need to repair an outboard, you can just yank the thing off the boat and take it to a shop or home for service.I'd have a good hard look at my inboard and cost the repairs required, or look at the option of installing a used motor before I'd spend $1500 plus the time required to get the outboards installed and working properly, but that's just one opinion. One thing sure ; it's better to be able to enjoy the boat with a less than ideal setup (the outboard) than to stay on shore. Good luck.