Even though you might spend a fair while doing things to it at the end you will understand how to fix and maintain a boat and how expensive it is to let a boat go. Its a lot easier on the heart to rip the decks of a dear old girl than a $20000 A class. I would really encourage you to go for it and repair it as economically as posible, at any stage of the repairs if you have a doubt search this forum or post a query on this site. I have just gone through all that and yes I parted with the first boat but it gave me an economical start to my now uneconomical addiction.
I encourage you to go for it and keep us up to date on what you go through.
Could the two tramps be one old and one new one?
regards