You're probably going to find that your best bet is to pick up a bargain on a used, together and functioning boat. Unless you put new merc in the boat whatever you put in is going to be worth less the second you bolt it in.
And you have to assume something is wrong in the drives- you have no way of determining otherwise.
Based on alot of experiences with alot of projects, unless this is a special boat that you just have to have, or unless you're literally stealing it, you're going to put more money into it than you think. Maybe way more. And if this is your first trip to the rodeo on a project boat, assume not only more $$ but more time.
There's some great value to be found in being able to operate and have surveyed your prospective purchase before laying down your cash.