There's a Morgan 41 Out Island for sale over in St Thomas for what seems like forever. I first noticed it when it was selling for around $40K and have watched, with no small amount of interest, as the price has come down (and down) till it's reached it's current sub-$10K asking price of $8500.
Obviously it's a problematic boat and no doubt has some, let us be polite, serious "issues".
Considering its cheap price, if it were closer, I'd take a look at it except it's a Morgan Out Island 41 which, while not being a bad boat, it is a boat I've just never liked so why bother.
Of course, that's what you get with bigger boats on a VolksCruising budget is project boats with some serious issues... It's just the way it's going to be.
I expect, if you like the Out Island design, have a place to work on the boat full time for six-months, do all your own work, and $20K cash for needful materials you'd have a pretty nice boat.
Sweat equity is a wonderful thing...