The project duration depends a lot of work habits.
I've seen paint and varnish projects stretched out to a year, and have seen complete rebuilds take a few weeks.
As for power washing below decks, I use plenty of water below, garden hose power washer etc.
Most often I drill a 3/4 inch hole in the lowest point of the hull, or if there's a through hull in a suitable location, I just remove that. If you don't want to drill, a sump pump and shop vac gets rid of the water.
Sails are the critical thing as to deciding the worth of the project, without sails it's just a swim platform no matter how good it looks.
From the pics, I'd be dragging it home. But I enjoy project boats, sometimes I think I enjoy the projects just as much, or as I do sailing them. (typically don't keep a ready to sail boat too long after it's done)