Shucks, that's a real kick in the nuts. I'm sure you were getting excited about it. Truth is though, that there were a lot of questionable unknowns with that one from what you described. I don't doubt that someone who would sell it out from under you like that, took even worse care of it than he let on. Consider it a learning experience and just more data to use in comparison when you look at the next one. Really, given a little time, I bet you can find one in significantly better shape for not a heck of a lot more money... It's all a trade-off. You could have had this one in two weeks for $500, then spent $750 and all Spring and most of Summer fooling around trying to get it in the water, or, now, you wait for your shot to come along, then spend $1200 on one ready-to-go and sitting on a trailer... Curse this douchebag the rest of today, then move on to better circumstances tomorrow. Good luck, and post an update as the search continues.
Fred