Re: Transom wood?
"Assume it is rotten and will need a new transom, deck, stringers and basically everything."
"You will Never get your Money back from this thing"
"Walk away"
1,2, and 3. Take you pick and keep your money in your pocket. Never believe what the owner tells you. You can (and will) find a much better deal that you can work with if you are patient--even if this thing is free. I have seen 17/18' boats with 100+ hp motors for under $1200...all days long, and they didn't need work. There are a bunch out there. Between a motor and trailer, and all the work you're going to need...do the math.
I found IBOATS after I bought my current project and then began kicking myself. If I knew then what I know now, thanks to these guys, I would not have done it. You're fortunate. Still, I ended up with a free boat (sold the motor (was dead) and the trailer is worth the whole price) but since then I have found better deals without the hassle of rebuilding. Don't get me wrong...I am really having fun with this, but it's a real job to rebuild a boat and even harder to keep the cost down...it's much more fun to go fishing.
Steve