The former owner owed $550K on the property and I actually redeemed the house from the bank's through him rather than wait out the 1 year redemption period required after the sheriff sale. I got it for the monies owed on the first mortgage plus 3 years interest and penalties, lawyer fees, back taxes, water bills and everything else the township/banks could through at it and make stick. The total purchase price came to $268K but I put about $150K into it the first year and have continued to improve things ever since.
In the spring I am adding another 1500 sq ft to the building that will become the new glass and paint area to further isolate the dust from the rest of the building.
The bad boat deal is working itself out as I have legal papers now (over 3 years later) that make it mine. The replacement boat turned out to be the better choose and we are well underway to having it done for the upcoming season.
The new year is already looking up, I hired a "professional" glass/gel coat/painter that starts on Monday. This will free me up to do the things I have more of a passion for which is the engine/rigging/design end of the business.