Just curious, did you have the boat surveyed when you bought her? If not, then I'm not too surprised you're finding all sorts of rude awakenings in terms of unexpected problems. That's why you have boats surveyed.
Second what Bubblehead said... either fix it or sell it. If you can fix it to the point you trust it, that's probably better IMHO if you're planning on long-term cruising than selling it and buying one that you know nothing about.
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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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Still—DON'T READ THAT POST AGAIN.