Just wanted to second some parts of what Gregg stated and add a few comments. Looks for cracks in the gel coat and fiberglass area throughout the craft. Weakened stringers and floor will usually cause the rest of the boat to flex enough to make cracks in the high stress areas. Second, a bit of poking around where any penetrations in the transom are located will help find the weak spots, water can find its way in through even screw penetrations for speedo's, depth gauges, etc. And lastly, if everything feels fairly solid, don't be afraid to take note of the areas and go enjoy the season. As you become more acclimated to your new treasure you will find other items that will need some attention, or maybe just the new owners touch. Some opt for more fishing attributes, while other may sway towards skiing/wakeboarding. Bottom line, if the floor and transom aren't falling apart, which we sincerely hope not, don't jump into a major restoration until you and your boat have developed a sort of relationship. Just my $0.02