I was involved with a project where a casualty of Hurricane Andrew was restored. Structurally there was little damage. The biggest job was re-affixing one side of the main bulkhead where it had separated from the hull.
There were scores of small projects. Some of which were cosmetic, some crucial to safety. The boat was made 'whole' again. The cost was $86,000, not including two years of hardstand fees. The boat originally cost the new owner $70,000. Two years of work in a yard in the Caribbean and it was in a condition to sail. But, it was never right. Always, there were problems. It seemed every time one was rectified, another popped up.
The decision was made to sell the boat. The median price for these was between $180k and $240k. The owner eventually managed to sell it for $80,000. This represented a financial loss of around $90,000; but the cost in anxiety was incalculable.
I have restored several smaller sailboats over the past 40 years. Trailable boats can return a decent profit. But, I would never recommend taking on a fixer-upper unless you are so enamored of it, so determined that this is your boat, and wealthy enough to blow tens of thousands, and have a couple of years spare, to make it happen. Another concern is the rig. Is it missing due to damage in the sinking, or was it sold as part of salvage...in other words was the boat pitchpoled or written-off? The cost of rigging a 44'cat is enormous and it can't be done 'on the cheap'.
Restoring an old boat can be very rewarding, but it can also be heartbreakingly tough. I, for one, will never attempt it again.
"if at first you don't succeed....Redefine success"!