I really like the island DIY ethic, but in this case I'm looking to get the current owner to do it on his dime (or knock enough off the price so I can get it done). I might be tempted to redo it in metal so it's never a concern again (at least for me).
There are of course many potential work projects for this potential purchase. I like DIY projects, but I'm a little leary of the logistics of schleping material to the island and even worse, getting rid of demo debris. I clearly need a beater boat.
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