I was kind of in your same mind set when I first went into this boat ownership thing. But I had a well thought out plan in place that I worked methodically. I first studied the laws in my state and the neighboring states, to learn how to take possession of a abandoned or derelict boat. Then I called my insurance company All-State and ask what the insurance requirements were on a boat of 30í size. I learned the 5 most expensive cost to a derelict boat and learned if the problems with neglected boats was something that I could fix. Deck fittings Thru hull valves engine sails Life lines Bottom job, Standing rigging running rigging etc. Once I learned how much it could be on the high side and the insurance cost, I started my search for a boat. I found one on the hook it had been there for 4 years and 7 months without anyone looking in on it. After a lot of hard luck I found the owner and was able to get the boat for $2,500.00 it needed a lot of work. The floors had to come out, The Bimini was destroyed. All the lights had to be rewired. It needed hauled scraped and painted. The cutlass and stuffing box needed replaced. After only 8 trips the 2gm gave up the ghost I was able to purchase a $3,000. 2GM20F and install it myself,
All and all Iím still way under $10,000 in fact I have spent $10,000. Now and I've had the boat going on 3 years now. So, yes you can do it and with liability insurance. My advise do what you are doing learn from others. Read, read, and research the net. There is so much information out there. There is no reason you canít do what you want within that budget.
Good luck and take a look and I will show what I started with for $2,500 Bucksí
S/V East Coast Lady Shows her Bottom