Abandoned Mustang Project - Need Advice

There is a CC Mustang that was abandoned at the marina where I store my boat. It looks like it hasn't been in the water since '99. I'm thinking about making an "as is" offer to the marina to get it off their hands. I want to know what this group thinks the maximum offer should be. Keep in mind I want to make my offer without even putting the boat in the water or trying to fire it up. Here's a picture of the boat.
Abandoned Mustang Hull

The boat looks okay on the outside. It doesn't have a trailer and it has some nice dings in the hull. Here's a picture of the dings.
Dings
Am I crazy? I'm a mechanical guy and can fix most things myself, but am I getting in over my head? What if I can get the boat for next to nothing, just so the marina can get it out of their lot?

Also, can anyone tell me what year this might be? Or other things I should look into? I've looked around and it appears to be a 75 Mustang 17.

One more thing. How the heck do you get images to show up inline?

THANKS!

It's on the north side of Indianapolis, in Noblesville. How can I check the stringers? Will I be able to tell by walking on the floor? What kind of things can I check about the motor without trying to fire it up?

It looks like it was a well-cared for boat, at least until recently.

From the picture, it has a rope rubrail which was after 1976. Somewhere in 1977-1978 they went to big MUSTANG 17 stenciling. It is possible someone replaced the rub rail.

So you think it might be a 76? I've seen similar lettering on a 75, but I couldn't find any 17' Mustangs before 74. The rope rub rail looks like it hasn't been touched in years. I can't find a hull number on this boat. I've looked all over the back.

How much should I offer the marina for this thing? They want to recoup some of the "storage fees". I want to make them an 'as is' offer, without testing the motor or anything, just because it gives me more leverage for a low offer. Any negotiating tips? The marina here is a real price gouger and I want to get a good deal since I'll probably have to put some bucks into this boat to get it wet next year.

Does the Marina have the title for the boat? Without a title you could have a rough time registering the boat as yours.

Just saw today a 84,85? 2001 up at wawasee on hwy 13 near the church 7500.00
wh/blue lettering w/trailer did not stop but it didn't look to bad.

    Might want to check your state laws. Here in Maine after I believe 20 years you dont need one. I bought my 1976 Mustang 17 last year and the guy I bought it from made me out a bill of sale on a plain piece of paper, handwritten, I then took it to the registry and showed them. I have no title on it. But I suppose the marina has to legally own it before they can sell it to you. If the legal paperwork beween the 2 parties have been done, then it may not be so bad....

STILL AN AWESOME BOAT!!!!!
Good luck!!
Also a way to tell the year is the ignition key on 1974 models were almost all the way to the right of the dash. Sometime in 75 or early 76 they moved it to the center of the dash because so many complaints about trying to use both arms on the same side to run the throttle and key at the same time.
    Ive also found even without the center keels, the boat plows so much water it really doesnt move much sideways. I like not having them because I "beach" my boat alot on the sand islands.

    All of those boats gel coat crack over time. It seems like 500 hrs is the magic number. Both of ours started cracking at about the same amount of use. If you buff them heck out if it with some diamond cut, then wax, the cracks dont look so bad. It really doesnt effect the performance, and will not hurt anything so long as the fiberglass is ok. Our 1974 Mustang 17 has been cracked for 20 years and its still fine.
    If it has a OMC 225 engine then you have yourself a winner. Those are pretty rare in Mustangs and are powerfull. Just the engine parts for those are going for pretty good money on E-BAY. They sound so sweet when the quadrajet opens compared to the 302 in our other one. Make sure you check the block, freeze plugs, and manifolds for cracks just in case it froze.
    Have you asked the marina what they need for it? To them its probably junk and might not want much for it, especially if they are not familiar with those boats. Like what was mentioned about offering $1000.OO, You could strip it and sell off the parts and probably double your money if its not totally junk. I get more compliments on how slick and sporty they look and sound.

The hull doesn't look like it was ever hit, but some of the gel coat has cracked and fallen off. I got a better look at the inside today and it has a pretty decent looking interior. I got the hull number today - it's CTC00166M74 H-17MS. Is there any way to look this up the way you can VINs?

I'm going to make them an offer tomorrow. I'll keep you posted.

Nope. The marina was already closed and I was worried about getting arrested poking around the boat! I'll check on it in the morning.

I will tell you if you can get it for $500, you stole it!! The hour meter is probably ok and with that little time on it there will definately be some good parts on it. Why cant I ever get that lucky????

Really, a 2 barrel? That is weird. Someone may have played with it. Most had the PCM Ford 302 220 hp with a 4 barrel. PCM did make the same engine with a 2 barrel carb. There should be a metal tag rivited on it somewhere giving you the engine conversion company. There should be a model # on it. Check the prop and see if its a right hand (RH)and what the pitch is. The boats with the 302 220 hp used a federal/michigan 12x14RH. All that I know of were right hand rotation. Wondering if someone messes with the engine?? Maybe its a old 289. Whats wrong with the wiring? Has it been monkeyed with?? If the engine is a PCM 302, I would definately get a 4 barrel carb for it. But for 500 dollars, its still a steal! Also theres nothing more rewarding than driving a boat that you have rebuilt!!

Glad to hear your moving forward on this.I just got back from Indy this afternoon sorry I didn't get your msg yesterday. We could of checked it out. Our 74 had a wakashaw which later became PCM. I believe this boat would have 185-190 HP w/2 bbl carb.

SWAMP DEMON is right on about the engine, and yes, drop a 4160 holley (OEM) on it and you will have 220 hp. I was real happy the way the 302/4 in the 76 went. In order to make a huge difference in power (throttle response-quick) you must advance the timing to 18 or so degrees at idle, and run 93 octane gas, and the boat will ROCK!   

I think I might have to. It certainly might make the marina guys more friendly!