Re: Sailable projects?
You'll spend a lot more than $1600 fully replacing cushions, head, wiring, galley and plumbing even on a small boat. However you'll get newer stuff than most other boats on the market and you will know the systems.
It's unlikely that you would use a propane stove on a 22-25' boat, there isn't really enough space for a good safe propane setup. The right stove for this would be an unpressurized alcohol stove (Origo) which is about $100 used up to $400 new.
I think I spent about $8k replacing the interior (cushions, plumbing, most electrical, stove), sails, running rigging, rudder, and other parts on my Catalina 25. I never added it up because I honestly don't want to know the answer. I could have saved about $1000 if I had sewn the cushions myself, but I did the rest of the work myself. I didn't come close to recovering it when selling the boat, but still got a lot of enjoyment out of that boat.
boats that I sail on regularly: Pearson 28-2, Rondar 505, Yankee 30, Blanchard Junior