It really depends on what failed as well as the scope of the trip. You have to take each item as it stands and how your comfort level is with what doesn't pass.
For instance, say the fire extinguishers and flares are expired... Most fire extinguishers will work fairly well, even past their expiration date, provided they're still pressurized. SOLAS class flares will often work, even years past their expiration date, and are better than USCG-approved flares when they're 5-10 years old in many cases.
If the through-hulls are about to fail...that's a different story...
That is a pretty comprehensive list. My question, is what do you do if some of the items 'fail' the test? Do you back out of the trip, insist that the items be corrected immediately, forget about it and take off, or what? What if the owner tells you he doesn't have an extra impeller, the fire extinguishers are expired, and he can't find the emergency tiller?
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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