AMEN!
My fondest memories growing up were spent boating.
My first boat was a small fixer-upper. I spend more than I paid for the boat trying to make a 4 cyl bow-rider into a passable wakeboard boat. Lesson learned: think about what you might want to use the boat for a few years down the road and buy one that meets that purpose. This includes things like trolling motors, live wells, stereo/navigation equip. If you think about it, you're basically buying all of these items used if you buy a used boat with them. Fixer-uppers are fine, but understand that just about every DIY project on a boat costs about twice what a similar car project might be. This is especially true of electrical and engine components. It may help to have a wish list that includes the cost of items you want, including the cost of getting the one you’re looking at into the condition you want. This is how that “great buy” ends up being that hole in the water you throw money into.
The first dent/scratch in a new boat will break your heart. Subsequent dents/scratches, especially if you didn't repair the first one, hurt a lot less. If you want to spend hours cleaning and waxing a boat, buy a shiny one. If you want to use the boat to have fun, buy one that already has dock rash. It takes me about 3 minutes from when the boat leaves the water until it is tied down, cleared of gear, waterline wiped down, and on the road.
Regarding trailer lights: Buy a good set of sealed LED trailer lights with new wires to replace the garbage that it probably came with. Drill a new ground, sand the paint away and seal the new connection with liquid electrical tape or exterior silicone. Don't forget to keep your vehicle port clean, covered, and lubed with dielectric grease.
KY has so many beautiful rivers and lakes, most of which have rocky bottoms and steep banks. If you're going to try to fish shallow water, expect to drop a few hundred in props and prop repair every year. There are plastic props with replaceable fins, but I have no experience regarding their quality.