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Definitely get a hull with the full height transom to support long shaft (20") motors. I've got a 1976 and the only water I get over the sides is from the bow at high speeds in big chop - never had water over the transom.

Your price range is reasonable, even here in Southern California where prices trend high (compared with what I've seen online elsewhere). I originally paid $3000 for my 1976 with a 30hp 1997 Evinrude in great shape and a decent trailer - just finished restoring the old girl, including repowering, so I've probably put about $2000 into it on top of the original price, but that was more a labor of love than a wise financial decision.