Underwater running gear would be the main concern IMHO. Check that over well, if it's corroded, maybe deduct the cost to replace. Check the trailer carefully. If it's a go, might be worth drilling a couple holes to spray a little rust proofer into the frame rails, also IMHO.
I spent most of my money on booze, broads and boats. The rest I wasted. - Elmore Leonard
I had always thought that there was nothing quite so sad as an abandoned boat.-Terry Hayes