I've done a ton of reading on this site so I think that I have a good idea what to look for and also how to fix most of the fixable problems that I might run across. There are not many for sale around here so the pickin's are slim...supply and demand.
This boat has been a cottage boat for most, if not all of it's life and the lake it has been on is not a big water lake...so real sailing that might stress big parts so I don't anticipate major components will need anything other than to be cleaned and properly setup. Also, the cottages and people involved take care of their stuff and store at least in boathouses or covered. It was last sailed last year, once...so it works.
I plan on doing any hull work first, replacing the rigging and ropes (as needed) second. Tramp third. mast perhaps fourth. I think that is in order of ascending price. I hope I don't need any of the blocks replaced or some other expensive parts though.
All this is still with the boat unseen, so a lot can change upon first viewing...I am the only buyer in consideration so I am not in a hurry or worried that someone else will scoop it at least.
What would be cool is to put it in the water and sail it home

(we're on the same lake) but it is quite a hike. A lot could go wrong for a newbie.
Jeff.