Lee,
Comparing notes on the M384 would be informative. I don't spend much time on this website, so my contributions/replies may be sporadic - nothing personal!
I bought the boat last year about this time. It had two previous owners, and had been stored on the hard for four years. The last PO used her only seasonally to go to the Bahamas, so she hasn't had a lot of use, and she's in pretty decent shape. All of the electronics, except the VHF and radar were either non-functional or no longer supported by the mfrs. Most of the "maintenance" done had been "band-aids" intended to enhance her value for sale, so important stuff like plumbing, electrical, engine systems, sails, metal preservation, exterior finishes, etc. were either original and about to expire, or deteriorated to a level beyond skin deep. So it has been a search and discover experience, with some surprises, like undisclosed collision damage to the pushpit and gelcoat on the hull. Kinda like buying a used car. She's definitely not a lemon, but she does need a thorough going over. The PO wasn't up front with the negative stuff, and the surveyor did a poor job of evaluating things - didn't open the electrical panel or look into the bilges. She looks great from 50 ft. away! I had planned on updating systems over the last year, but have been discovering enough additional defects that I lost trust in the PO's claims of "excellent condition", and I must spend probably until next Spring getting her into good enough shape to feel confident in her condition. Yeah, I'm a bit of a perfectionist, but I can slip a little, short of being sure she is blue-water capable. I want to pull the mast for a full evaluation, pull the rudder (waterlogged now), replace the cutless bearing (which was 5200 bonded in), re-pack the shafts, modify the bimini frame so it doesn't chafe the backstays, and replace the damaged wire rope. She also needs a proper propane locker - almost half built, and some work on the oven/range. The wind generator was not rebuildable, and the shore power battery charger is dead, so have to budget those in too. All of the portlights, except the large aft pair had to be re-bedded and needed new seals. I upgraded the bow light and stern light to LED's as well as all the interior lights. Still need to check the mast mounted lighting and probably upgrade those to LED's. The teak trim on deck is in good condition, with no rot, but one of the cap rails was dinged by something strong and a short section should be replaced. The rest of the trim is solid, but should be re-finished. I manually scraped off all of the old Cetol which was baked on so well that a heat gun wouldn't melt it without charring. So all of the trim is that nice gray, weathered tone now. Haven't decided yet, but I may leave it that way. Despite the imperfections, I still love the boat, but I'd sure like to get in some more sailing time instead of rebuilding all the time! Ha ha! Oh well, it keeps me out of the bars! An occasional sail on the St. John river is really enjoyed.
Tell me more about your boat!