Thanks for the answers, I was looking for a project boat to build with some friends and our main limitation was budget... So free and still floating sounded like a great place to start.

The owner probably took everything of value. But I was thinking we might be able to buy back a couple things. Would that be a good place to start? Or is it better to look for something a little less bare? We have a lot of experience fixing and rebuilding, but no experience with boats in general...
Thanks again