I am a new plane owner (but not for long more it seems), and would really value your input. I purchased a plane five months ago doing everything I thought I should do to minimize the risk of buying a lemon. This was the plane: 1962 Piper Cherokee 160, Low-time airframe (~2700 hrs), low time engine (220 SMOH) with overhaul done in 2017, recently painted and new interior, both done in 2017. The plane had been owned by an A&P (who did the painting & interior) and was then sold, after an extensive pre-buy inspection, to a pilot who was training to go into the airlines. After he bought it, he had one extensive annual done on the plane and listed it for sale about 6 months later. Sounds pretty good, right? So, I went ahead with the purchase. Having been burned by buying a plane without a pre-buy (another story for another day), I insisted on a pre-buy with an independent mechanic at another airport. A few squawks were found, necessitating the replacement of the stabilator (mechanic said it looked like something had hit it) and an eddy current inspection since the wing spars had a couple of nuts missing from the bolts. Otherwise, nothing too major. I bought the plane in August and flew it for about 30 hours, and brought it in for my first annual just before the holidays. Keep in mind that at least four A&Ps had either signed off on an annual or done a pre-buy on the plane in the previous two and a half years. I just got a call yesterday from my mechanic, and essentially the plane will never fly again, at least at a cost I'm willing to spend. During the annual, he noticed corrosion in the tail section (it was obvious to even me when he pointed it out with his flashlight) and then removed the vertical stabilizer to inspect it further. The inside of the fin was completely corroded, as was the fuselage where it was attached. He then became suspicious of some fairly light corrosion he spotted in the baggage area, and decided to remove part of the headliner to inspect it further. The fuselage has vast corrosion, some of it so significant that my A&P was worried it would flake apart and disintegrate if he poked it with his finger. It looked like someone previously had try to paint over the corrosion with zinc chromate paint, and then covered it up with a new headliner. My mechanic said the damage is so significant that it would likely cost 2 to 3 times the value of the plane to fix it up. I now have a disassembled Cherokee sitting in my A&P's hangar and would value your advice on what to do next. A few questions - - What recourse (if any) do I have against the previous A&Ps/owners, especially the guy who did my pre-buy? Would you advise contacting a lawyer? - How do I deal with the plane now (I don't have a hangar and I'm sure I'll need to shift it sooner than later)? - The plane still has a low-time engine that ran great (compressions in upper 70s), both wings look good with no obvious issues, stabilator is good, engine mount is almost new, prop is fine, avionics OK, etc. I assume there is reasonable value in these parts, but how do I deal with them given I don't have any place to store the plane and parts? - Would you recommend listing it 'as is' on eBay and letting the buyer remove everything and deal with it? - Any other thoughts or suggestions? Given the damage, things could have been so much worse and I'm grateful for that. But I'm at a loss about where to start dealing with it, and would welcome any input. I'm based in Massachusetts if that matters.