Welcome aboard Dan!
If you purchase the boat I would be sure itís ready for doing the loop. Inspect/replace exhaust, bellows, shift cables, impellers. For just starters. Tune up and belts would be wise as well. Even after doing these keep spares aboard.
1997 Silverton 362, 7.4 Crusaders
1997 2400 SCR, 5.7 Vortec / Bravo 2