Welcome. Nice to know your willing to save a classic. Free boats can sometimes become expensive boats rather quickly. Two bits of advice, first one is to spend some time cleaning, inspecting, and evaluating the entire craft, bow to stern, and don't forget the trailer. Second piece is what are your plans for the boat? Watersports, fishing maybe, how often do you plan to go. Once you have the info, how much does it need, and how much can you do. This establishes your budget. Stay consistent and focused and you might end up with a great boat that will serve for years.