1987 Winnebago Elandan Remodel

I can't comment on your specific RV. A few years ago someone I know had to replace the gas engine in his Fleetwood Flair after it self destructed while in Florida.
He paid about $10,000 to have it done. I'm sure the price has increased over the last few years.

You may be better off building or restoring a TT.
Good luck with either route you take, keep us updated.

If you have a decent tow vehicle you may be better off with a trailer for full-timing. Unlike a motorhome, you'd have transportation without bringing your whole house with you.

The answer to the first question depends on how extensive the water damage is and how handy you are. My '84 sat in a tow yard for 6 years. It had leaked during that time, but didn't have a 1'x1' hole in the roof. The leaks were really just the result of neglect (they need inspected and sealed annually). Most of the damage was inside cabinets and not structural as the Allegro has an aluminum skeleton.

Unless you can replace the engine or transmission yourself, any sort of failure by either would render a rig that old worthless. You'd have to hope that it fails where you want to live permanently. At that point you'd wish you had a trailer.

I replaced the engine in my '84 Allegro M-31 myself. It's a P-30 chassis like yours would be. The engine fit through the driver's door. I found the 454 on Craigslist for $1,000. Add the cost of incidentals like fluids, hoses, belts and random parts I'm probably at about $1,500 for the engine replacement. It's a solid platform and if maintained properly I wouldn't worry about it failing.

My 02

Replacing big items like engine, transmission on 87 RV that already has water damage wouldn't be considered a wise investment by many.

Thank you all very much for the replies!

As much as I love my old rig, I can see how easily it can (and probably will) become a money pit once its being driven around. Like you guys said,I would want a trailer when (not if) the engine goes. I can see a lot of advantage to having a separate vehicle.

I'm thinking about maybe building out a cargo trailer instead. Or a horse trailer. I've heard cargo trailers are a good skeleton to start with. But I personally like the look and heft of horse trailers a little better. Although I'll bet a horse trailer is heavier.

So not exactly sure which would be better.