Kipp, I am on my second season with the new-to-me 1989 Striper 175. It came with a 2003 Mercury 2-stroke 75 and a trailer for $3,200. It is a fantastic boat and I plan to keep it around for a long time.
For me the only issue is the wiring. A lot of automotive connectors were on my boat, but I am slowly replacing them with marine grade heat shrink connections. I believe that my stringers and transom are wet, and they will be a project for another year or two.
Good luck with your boat. Post a lot of pictures when you have a chance.