I'm after some sage advice. Any and all advice, though, will be considered.

I've inherited a 26 foot GRP yacht currently moored in Canberra's biggest
lake. The boat hasn't been sailed in over 5 years, but is largely complete.

Apart from seagull poop, it needs new ropes, paint and most woodwork but the
hull looks OK and she sits in the water fine, too. It has sails, most
standing rigging, but the mast blew down and the step needs to be
reinstated.

The paint above the waterline is crazed, but the fibreglass down to the
waterline looks fine all round (no bubbling.) Below the waterline is a lot
of algae.

The problems a

a) I don't have a tender at the moment. The dinghy I was given was in worse
(!!) condition and I'm currently repairing it. Currently accessing the boat
by kayak.

b) I'm going overseas for 12 months come January.

c) Until 2005, I don't have much spare cash (I'll have a bit more when I get
back.)

So I've got 2 months to do what I can. At some point this boat needs to come
out of the water for a full repaint, and to be checked for osmosis.

My options are to either take it out now, clean it/paint it, then leave it
on stands for a year before finishing the job. Or clean it where it floats,
go away for a year, come back, take it out, and clean it up, fix it up and
paint it. I'd rather do the second option, but I'm worried things might get
worse if she's left in the lake.

So, my questions a

- Is it likely the hull has some osmosis? (AFAIK, it's mostly a salt water
thing, right?)

- If I just clean it up a bit (no more seagull poop or grass growing in the
cockpit, clean bilge and working pump - preferably auto/solar) and leave it
for a year, how likely am I to generate any new problems? I have
friends/family who can check on her for me.

- What haven't I thought of in restoring it?

Any and all relevant advice would be nice.

Cheers,

Angus