Just got one! Good deal or am i screwed?

[Snazzy_757]

So i got a 1984 v-20 cuddy for $450 on a trailer with a volvo aq145 and 280 outdrive. The hull is basically stripped--meaning all the wiring and controls are pulled on account the owner was going to just repower. I was told from the previous owner that the engine was "rebuilt" and only needed rebuilt carbs, it doesnt look that way. The outdrive shifter is frozen but the lower unit spins fine.

Pulled the intake maifold off to discover water, junk, and rusted filled head and pistons. Looks like the previous owner knew the pistons were stuck and poured tranny fluid in to unstick em as well.

I dont know if its worth it continuing on rebuilding the engine or bail while im not underwater yet. I can't really find and used or rebuilt aq145's to swap it out with. For that matter not really any volvos locally.

I was looking around the site (great place!) and couldnt find any threads on anyone converting i/o to outboard with a bracket. I'm sure some of you have and would love to hear! I think this may be best because the outdrive may be too much of a hasel to repair.

Should I:
A)Continue the rebuild?
B)Look around harder to find a volvo engine?
C)Put a outboard on?
D)Drop the hull off at the dump, get money back by scraping trailer?

I'll take some pictures in the days to come...
~Snazzy