First time buyer. Does this old boat look like a money pit or a decent starter?

Posted by lrenv22@reddit | sailing | View on Reddit | 25 comments

Found a 1970s something or other for sale locally. Owner says it's been on a trailer for years but was sailed regularly before that. Hull looks solid from what I can see but I know nothing about old boats. I don't mind fixing stuff but I also don't want to spend more than the boat is worth. What are the first things I should check before even considering an offer? Soft decks, the keel joint, the rig? Also is there a point where free is still too expensive? Any advice for a complete beginner would be great.