Re: Please tell me this is a nutty idea so I will stop looking at this boat.
Here's what I mean. We paid $6K for this Catalina 22 in 2006, sailed her for two years and made a few small improvements. Sold her for $7k in '08.
With the boat market down you could probably find something similar for $5K-$5,500 today.
Just be prepared that you'll see a lot of neglected boats in this price range before you find your perfect boat.
Best of luck,
95 Catalina 30 Island Time
“If a man is to be obsessed by something, I suppose a boat is as good as anything, perhaps a bit better than most" - E.B. White