Do not put a lot of money into this boat as it doesn't have much value.  You are feeding oats to a dead horse.

How much is too much? We got this boat, along with its' own private
dock (which is why we bought it as you cannot find houseboat stalls
on our lake in AR, there is up to a 2-yr wait). The previous owners
had re-done the inside and mechanical and were getting ready to do
the exterior. The hull, roof, railings, windows, etc. are all in really
good shape and don't need anything done to them. The cabin
exterior is in good shape (steel siding) but the colors are faded and
outdated. Old Houseboater, would you conclude that painting is the
best option? Thanks for the input.

Hi i am from arkansas too working on a loder houseboat too,i am in mountain view  Iam trying to find a place to dock my boat 60 foot long . I have been working on my boat for 2 years  hope to be done soo   iF YOU WOULD LIKE we could talk by phone or you could come see my boat or i yours