28k - Is this boat a good buy? Needs refurbishment

[weert]

Hey all, first time posting here. 

I live in the San Juan Islands in Washington. Recently, I was offered what seems like a great deal. A 26ft custom aluminum boat with a fresh motor installed for 28k. 28k is the engine + installation's value. I've got the cash for it. The catch is that it has some corrosion issues and is in the middle of having its bottom fixed. I got two buddies who are willing to help me work on the boat. The guy said he would let us keep the boat in its current sling for half a year while he travels in the Philippines. The vibe I got was he is in his 60s runs a company and has wealth, that he is annoyed by the boat project and doesn't plan to use it and wants it to be refurbished and used locally. He has another boat, a landing craft. Note, I met him on craigslist buying a used truck from him in great condition for a few grand under what it should be worth. He already did a bunch of the prep work required for the aluminum on the boat. I've never welded aluminum but have a friend who has. I'm thinking I could complete the prep work he started and pay a welder to finish the boat and still be way ahead financially. What do you guys think? Am I stupid? How can I protect myself if I agree to this?

Cheers!
W.

[weert]

For some more context. The corrosion was because the boat had spray foam installed into the floor and sea water got trapped between it and the aluminum of the hull for an unknown period of time. The corrosion is the worst by far at the low points of the boat, mainly along the beam.

[gandrfab]

So your buddy that welds doesn't surprise you. He may or may not be surprised himself.

Old corroded aluminum does not weld the same as nice clean aluminum.
If it is not cleaned properly (ground out, sanded, solvent and cleaners will not get this cleaning job done) every little nook and cranny of corrosion will fight the welder.

[gandrfab]

The pictures didn't show for me

and good luck