I bought a 22' GFRP sloop for less than the price of first, last, and deposit. Everything is in good shape, and my rent is $250 a month! I am planning on putting in a tiny galley, converting one berth to dry storage, and going cruising. (There are always too many berths on boats... it's a selling point.)
I found that reflectix insulation was probably the most well spent $25 of my life, and that a flexible aluminum exhaust duct, routed out the companionway hatch, proves extremely useful for lantern and cookstove exhaust.