Congratulations on the last boat you will ever need. When you ride in that thing you will want to junk the trophy. It looks like someone got happy with the drill on that boat so you will have to check the gunnel coring on the cap were all the holes are for water intrusion. Your just going to want to know if there is any rot in the balsa core. You may not have to replace it if it is still solid but it's good to know anyways. If you are going to keep it an IO then you should flip the front vents the other way so it forces air into the bilge. It helps with the ventilation. The hatches are probably one of the biggest areas were you will find rot as well as the transom. The transom can be checked by drilling a couple of 1/8 inch holes low on the outside of the transom and look for water seepage and wood quality. If theres no rotton wood or water seepage then just fill the holes with epoxy/cabosil mixture. The areas under were the seats were should be checked as well for rot. It looks like water could have been trapped under those big aluminum plates unless there was some sealeant around the plates? also the gas tank needs to be checked. The only way to effectivly do this is to pull the tank and have it pressure checked. If the bottom of the tank was resting on rubber strips like most of ours were then chances are there is going to be corrosion under those rubber strips. Thanks for the pictures.... we like lots of pictures.
strick