I don't know what "needs electrical" means, but putting aside whatever pain that represents, if the boat doesn't have an engine and doesn't have sails, it probably doesn't have many other things you didn't ask about. Find something in the water, where the owner can show you how its ready to go, and buy a boat you can use and enjoy. Otherwise think of the $500 as a down payment rather than the cost...you're likely to spend a lot more before you enjoy any sailing adventures.
PS - you'd be wise to get some sailing knowledge before you consider buying a sailboat...
Certified...in several regards...
Last edited by sailingfool; 06-02-2010 at 05:16 PM.