So Julie, the "good" is the Interlux bottom paint?
That bulkhead rot looks really ugly. Is leaking to this extent common amongst all Sabres? Obviously, you will want to do carefull moisture readings on the weather decks. My guess at only looking at this one photo, there is a whole lot more work needed than meets the eye. My experience is nothing is not repairable given enough time, money and resourses. The question is: "Is it worth all that for you?".