"Still make over what you paid for"
Not in the US. Here, you'd have to pay early to have the hull ground up and carted away as hazardous waste, after you hauled the keel away to the scrap metal dealers. It's a shame to see a boat in that shape but unless you have idle land to park it on and spend a long time working on it...Ouch. Quite an ambitious project but I suspect that one will become landfill.