Since Bear has tidied up Egret II, that MkII now only looks five times better.
She's a wee ripper Di!!
As Bear said with an acid wash on exterior, clear out the interior (looks like a good ole' Treasure Hunt inside too!...nice oil lamps??), mould killer eveywhere..paint interior, fix leaks as much as possible, try washing all running rigging in bath??(looks like modern type sheets), metho stove will polish up as new, bit of sanding on timber work, sail bags(at least) in V-berth look ok, Spend less than $100 on cleaning products & Hey presto....back to former glory.
As Bruce said in his first post, you will have to do all the work yourself(paying someone will not make it worthwhile), & you will have to have somewhere cheap & accessible to keep it, do you still have two moorings?...perfect!
A couple of solid weekends will get the worse of it, just kit up with some PPE, & get into it.
Hopefully (this is where the gamble is...just like buying any other boat), the slip & antifoul wont open a can of worms, osmosis, rudder probs etc. But if its close to free in the first place, not much to lose.
cheers