Not a bad idea. My family's first boat was a repo. We re-did the inside a bit and had to put a new engine in it (long story-engine was being repaired and the repair facility had a fire) but it was otherwise solid. Only had it for a season but the next owner used it for years.
It is hit-or-miss from what I have seen. Good luck.
__________________ 2010 Evo X
Ex: A4, R32
Member: SCCA, BMWCCA, ACNA, PCA, NRA