Sounds like my same situation in 2012. 1999 Chris Craft 200 BR for $4500. 123 hours. Didn't run. Required a carb rebuild and lot of work on the outdrive. Everyone's financial situation is different but I'd make the same choice again even having to start all over again.
I'd try to find out if there are serious issues - cracked block, etc or if the owner just let it sit and now its just a simple fuel delivery or spark issue.
Where is it located? Somewhere w/ freezing temps in the winter?
Take a look at the outdrive for corrosion issues, check the bellows if they are rotten, look for rust stains on the sides of the manifolds to see if there are water intrusion indicators, consider hiring a marine surveyor to check things out if you feel you are not up to the task, tap around on the hull for soft or dead spots suggesting water intrusion issues, check the deck for rot if its not a fiberglass deck, pull the dipstick and look at the condition of the oil and examine for water intrusion, bring a compression tester and check each cylinder for consistent compression, and generally look the boat over to get a gauge of overall care.
Many will disagree, but if you have some skills and don't mind getting your hands dirty, I say go for it. But I'm the type who likes a deal and a project too...
Take a look at the boat buying sticky here-
https://forums.iboats.com/forum/gen...eeding-help-buying-a-boat-a-buyer-s-checklist