What is wrong with the boat?

Here is what needs to be done for the boat to be completely restored (and nearly perfect):

It needs bottom paint.  There are a few light scrapes and rough spots, but no bubbling or blisters.  The old bottom paint is some form of ablative (chalky) bottom paint that is very thick, but rubs off easily (if you touch the bottom your hand looks like you were holding blue chalk). I've heard you can remove it with a pressure washer. There are no major repairs needed to the bottom, but you'll probably find some spots you want to smooth out if you are picky.  If found that I actually enjoy working with epoxy, so I'd probably do that and then put a hard shell bottom paint on it if I was going to keep it on a trailer. At least that was my plan.

The top paint is 3 coats of primer and 3 coats of Rustoleum Topside paint (which is their real marine paint. It is not as good as a 2-part, but is rated at least as well as Petit or other 1-part topsides).  It currently looks great and everyone comments on it. The first person that saw it painted asked if it was a new boat.

Click on the picture to see the waviness in the rubrail.

The reason I had to paint the topside was due to some damage I got while docked during a big storm in North Carolina (50+mph winds).  The rubrail got knocked off and took a bit of the hull and deck with it (no more than an inch, so only a small bit).  The guy at my boat shop said I could repair it with epoxy putty, but I elected to redo the entire side.  I took it down to bare 'glass about 4-8" in each direction and rebuilt the entire side.  It took an entire month working 2-8 hours a day, but it was worth it.  Aside from the rubrail, it looks better than it did before (and at the same time I was able to fix a couple of soft spots and other problems). I also added a hatch and inspection port to the rear deck, so I got a lot done out of that problem. The only issue resulting from the repair is a bit of waviness in the rubrail (I reused the old one, I couldn't afford a new one) and a bit of deck (outside of the genoa track) that doesn't match the original (both bits are hard to photograph.  The difference is pretty minor).  To make the boat pristine, you would need to replace about 15' of rubrail, but I can assure you that the bit underneath is very well done (I glassed the deck and the hull together, it is very strong).