[notfarnow]

This reminds me of the 23' wooden sailboat I bought when I was 25.

The boat was a 23' bluenose sloop that had been badly neglecteds. Lots of rot in the Bad Places, broken ribs and missing hardware. It had been fiberglassed in places by a PO, which just held the water IN and worsened the rot.

The boat needed to be saved.

I had never owned a boat, let alone a wooden one, but I had read Wooden Boat for 2-3 years so I was all hopped up on tales of boat restorations.

I had no tools, no woodworking skills, no money. I was a full time student, so I didn't have much time either.

What I did have was ENTHUSIASM. I slaved away on the thing for 3 years. Every time I poked, I found more rot. Every time I tightened a plank, another one pulled from a rotten rib.

One day I spilled a beer on the deck, and within 10 minutes it was dripping out the keel bolts. I realized I was not going to win.

The boat never saw water, other than rain, spilled beer and piss. I spend almost 4 years slaving away at a futile project that soaked up all my spare time and money.

I sold the boat for $50 to a guy who restored boats and wanted the wood and fittings for another project. It was chainsawed and carted off in 2 trailer loads. It killed a part of me... the "romantic" that thinks enthusiasm and optimism can trump the naysayers and cynics.

However, with the lessons I learned, I now approach projects VERY CAREFULLY. Yeah, I'm still a sucker for "save me" projects, but I have a better understanding of the scope and commitment. I get enthusiastic but my "spidey sense" kicks in when I'm not only trying to convince others, but MYSELF as well.

So yeah, buy the Porsche. It's a piece of $chit, and it will be a disaster that will break your spirit. But, it seems you are determined to learn the hard way. Better with a 12K Porsche than a 200k "fixer upper" house.