All very good points. Thank you!
I have looked at Moorings ad Sailtime. If they had a base in the area I'd be tempted. We have a few clubs, but they are geared to daysailing. You can charter, but the cost is not much less than the much nicer boats that are available exclusively for charter in the area.
You raise a very good point about the purpose of owning the boat. I hadn't thought of it that way. I've seen many more adds for fractional boats for racing than day/cruising. For now my "race" boat is in the garage. But the wife doesn't like getting that wet. We need a sea kindly cruiser so she doesn't turn green!
Can you query your brother-in-law for any pointers he may have for me? It would be great to hear about how the work out dissolution, improvements, etc.