Is that a crazy idea? My gut says probably so. What you're getting here is pretty decent advice, based on a lot of experience. While the hull is free, the amount of time, materials and labor you're talking about is a major investment. Nobody who starts a project like this thinks it'll happen to them, but many projects are never completed for a whole bunch of reasons - things pop up in your life that change how much of that time, money, effort and commitment can be devoted to "the project," so it winds up sitting partially completed and unusable for long periods of time.
I agree that a better plan would be to get the Seafari in running shape with maybe a decent used motor, use it (gets you and your crew on the water this summer) and look for a 23 project boat. Make that your dream boat, and as the 23 gets ready to splash put the 20 up for sale. Good luck however you go!
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1977 23' Sceptre
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