Cheap as Chips - Anyone who's ever attempted to restore a boat of any kind will tell you that its not as cheap to do as people think, start with the transom, looks like its shagged, far to many holes and whats that checker plate hiding ? then the tubes

may clean up ok but i'd suggest a re tube, which your looking at 2k ish give or take, then that engine, he's stated it turns over, if it needs a new motor your looking at 7-8k for a proporsional lump, add electrics seating re wire and a trailer that works for the size of boat and your looking at a considerable sum of money to go boating, trust me i wanted to go boating once and thought i'd just go out and buy a cheap boat, but they dont exist........If you want to do anything more that floating around a lake its gona cost money.
Only good thing is he seem to have been fairly honest about the condition.