As a first timer into boating, this one is probably beyond your skill set. I tried something similar many years ago and the thought of floating on the lake, fishing, and drinking beer kept my wallet open far beyond the point where common sense should have taken over. Stupid me, I worked on the hull first and took the motor to a mechanic after. Asking him to do a tuneup, he looked it over and finally said “Son, that ain’t a motor, that’s an anchor!” I never did get that thing in the water and had to call in some favors just to get it hauled away. After that experience I set more realistic goals and took on the Coon Toon project.
https://www.gmsquarebody.com/threads/the-coon-toon-project.3148/#post-93076
Besides a hull in questionable condition, the fact that there’s no trailer is a big deal. Around here, any road worthy boat trailer brings at least $1500. The motor has issues as well, I’m betting the impeller went bad from sitting and that’s why the lower end was removed. If it was a simple matter of clearing the ground, why wasn’t it just tilted up? Every outboard I’ve ever seen can be tilted up higher than the bottom of the transom.
Looking at the big picture, bc78 didn’t say “I’ve been wanting a boat for a long time and this one is available.” It’s more like “I wasn’t looking for a boat but my dad wants this gone.” IMO, that’s not enough reason to start throwing Benjamins down a rat hole.