Many things are possible, but unlikely, including a first time inexperienced boat owner being glad he/she did a sunk cored 'project boat' as a first boat. A surveyor would bring you to reality but cost $16/ft or so. What we did (30 years ago) was put savings into a designated 'boat fund'. Invest all those hundreds (thousands?) of hours of free time you have for this project and instead moonlight at whatever you're good at...mowing lawns, hanging wallpaper, amateur dentistry, snake-sitting, fiberglass boat repair work, re-wiring boats, rigging boats at your local dealer, re-building trailers, outboard repairs, whatever. In a lot fewer years than under your plan you'll be able to afford a real boat that's ready to go boating TODAY with a safe trailer. Start your Boat Fund with the 3.5 Boat Units you're thinking of investing (a Boat Unit is $1,000).
The very best boat owners have all taken such good care of their babies that they NEVER sank, not even once. There are plenty of them out there...save your money and your business for one of them.
Best of luck and have fun in any event!
John