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I agree it looks OK. Do not worry too much about the gelcoat. I think lots boats get painted when just a few hours with rubbing compound and a coat of wax will make even chalky gelcoat come back nicely. There are some posts on this site that go into that process in SCARY detail. I also note the trailer looks much better than average for a trailer sailer, at least in my area. Most included with boats of this age are rusted heaps. It looks like you could be on the water with just some elbow grease and bottom paint, and a motor depending on your needs.
 
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