Years ago when first starting out with the R/C boats, my dad and I joined the Oakland R/C Boat Club. The club had a pretty cool idea...a "club boat". It was a Hughey 21 with a stock K&B engine, same prop for all the boats, and they had club races. The boats weren't terribly expensive (or fast), but they were a ton of fun. It was a good place to start for a lot of guys, most went on to bigger, faster boats and sanctioned races, some were content to race at the club level for fun. I know times are different now, and this sort of thing probably wouldn't fly in this day and age, but it seemed to work. If your club has enough members... a .12 boat for a club boat....???
I know that the engines now seem expensive, but they have always been expensive. Here is a Tidewater Price list from Dec 1986, look at the prices...but remember it's all relative. The prices look cheap compared to todays, but the price of P67 (1 pc case) $145.00 was a LOT of money back then.
The first boat I ever built was a Dumas Dragon Fly 40, the second was a Crapshooter 40 with an OPS40. Then it was too late...we were hooked.
My dad and I raced District 2 for a lot of years, had a lot of fun, made a lot of friends. But in model boat racing, as in life you are going to run into a few individuals that take themselves and the hobby way to serious, and that is not good. A few buttheads can mess up a good thing.
I have not raced competitively in a long time, but that will change next year.