[ocuyler]

Welcome to CSC. I agree with John. I would add that when "making sure" your thru-hull fittings are in good shape, I would suggest you consider removing and replacing all of them near or below the waterline. Other than water coming in over the stern, which is the #1 reason a boat would sink, slow leaking thru-hull fittings will sink a boat at the slip or just plain give your bilge pumps a work-out.

When considering John's points, be sure to "perfect" each one before moving on.

I might add that many of these project boats are found to have leaking fuel tanks. Regardless of the type of power you have, there's no way that's good...