First, from one vet to another,thank you for your service. Second, welcome aboard. It's hard to sink these boats. (not impossible, just hard). I'd make sure I had a splash board in front of the engine well. (why invite trouble)
You need to find out why there was a cut in the deck by the tank. If the tank was replaced, that's gravy. If however, the PO looked at the tank and decided to sell the boat because he didn't want to fix whatever the problem is you have a project on your hands. Stating the obvious, leaking gas tanks are a fatal disaster waiting to happen.
In all cases, again, welcome aboard. Looking forward to more posts from you. and remember, we love boat porn on these forums, so be sure to post lots of pics.
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1987 V20 w/1987 150HP Yamaha on a Shoreland'r Trailer
1978 16.5 Airslot w/1996 120HP Force on a Four Winns trailer
1996 V21 w/1993 200HP Mercury on a Shoreline Trailer
All towed by a 5.7L Hemi Durango.
If God didn't have a purpose for us we wouldn't be here, so
Live simply, Love generously, Care deeply, Speak kindly.
(Leave the rest to God) 
Silence, in the face of evil, is itself evil. Not to speak is to speak, not to act is to act. God will not hold us guiltless.
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