What am I getting into? 2005 Launch 21V

Hello Supra world! I am seriously looking at a Launch 21V (as my username would indicate..) and I wanted to run my thought process through y'all. I would be buying this boat in good mechanical order (~300 hrs) with all else up to me. There is a laundry list of equipment it needs to bring it into 2020, but I think it just might be a good deal. I haven't lake trialed, but I plan to do a PPI and lake trial before signing the check.

So first off, the wakeplate hydraulics do not work. I can hear the motor working, but there is no fluid in the reservoir (mounted close to the rear bench seat). It could be as simple as refilling the reservoir and bleeding the lines, but is there a systemic issue with these hydraulics I should be aware of?

It doesn't have Perfect Pass (what '05 wakeboat doesn't have PP??). What is a good price to have that installed?

The stereo head unit is Kenwood and said 'Protect' when we turned it on. I understand that could mean there's a short somewhere in the system. The 3 batteries were pretty low on voltage, so could that be it? Is that a can of worms I don't want to open? It also needs all the speakers incl. tower speakers replaced...

Overall the engine looked good, free of rust and generally clean. The hull is free of any major scratches or spider cracks around the tower. However, on the top cap of the hull about 1 ft from the bow, there are some lateral spider cracks. What could that be from?

I'd really appreciate y'all's thoughts on this one. I really would enjoy owning my first boat (grew up around sailboats and runabouts) and if this Supra works out, I think it could be a good one! Thanks!

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The stereo head unit is Kenwood and said 'Protect' when we turned it on. I understand that could mean there's a short somewhere in the system. The 3 batteries were pretty low on voltage, so could that be it? Is that a can of worms I don't want to open? It also needs all the speakers incl. tower speakers replaced...

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Stereo condition would not be a deal breaker IMO. Its not needed, but nice to have, so it can be built later, or a little at a time. The one thing I would want to know NOW, is the alternator functioning or not. Still not a deal breaker for me, as its replaceable, but you NEED it to function properly and would want to account for it in an offer, prior to buying.

So yes, voltage could put a head unit into protect mode. So could a shorted speaker. Both scenarios are easy to determine. Could just be a bad head unit.

Given this is the likely the winter time layup, id go ahead and budget for at least 2 new batteries. Low batteries typically do not survive the winter. You may not need 3.

Thanks for the advice. I assume but will emphasize the alternator check being part of the PPI.

Some additional info: This boat doesn't come with a trailer. I can get a new single axle for ~3k or a new tandem for 4.5k. I am trying to find a used tandem, but if I can't, are there any safety concerns with a single axle?

There are a lot of boats for sale. Are you good with working on your own boat? If not, you need to budget the labor costs of doing upgrades. It gets expensive.

Wakeplate hydraulics - no known issues. Could be a leak somewhere.

Batteries - unless you know they are new, budget dollars to buy a new ones. It probably has a switch. I would recommend installing an inboard charger.

The Kenwood stereo is horrible. You might as well replace everything: speakers, wires, amps, eq, etc?? Wide range on what you can spend here.

Engine - have a compression check/leak down test. This is one of the most important parts. Just because the motor looks good, does not mean it was winterized properly.

Spider cracks - a lot of boats have them. Cosmetic mostly.

Does it have any ballast upgrades?

If the boat needs work, try to get a good price on it. Depending on your budget, there are a lot of boats ready to go. I would not want to spend all of my time working on a boat instead of enjoying the boat during the summer.

Thanks for the advice.