Here are some pictures. You can see the fibers in the hull. There also appears to be a long gap along bottom of hull which has been painted.
The last photo is of the wood on the transom. I hope to get my engine going next week and will float boat before I do a repair of transom wood, in case there is a leak and the removal of the transom wood is required. If you have any advice on repairing transom wood, that would also be appreciated. My son and I are first time restorers.
My engine mechanic recommend I clean hull with a solvent, followed by Interlux primer, then paint with interlux bottom paint. Best option when gel coat is shot. Lower maintenance as well. Hope this helps.