Update
The boat is almost done being sanded and we will move on to the next process shortly! I have to finish sanding the back and put new rudder and motor mounts back on. We will then move on to the pre wash and what the best type of washing mixture is for paint prep. Then we will go in to painting the boat.
Well I have tested the quick steel in the water and it held up to a point but does not create a water tight bond in all areas! I recently just picked up some new stuff called aqua mend at Home Depot and have applied it to the boat. It is the same price but for boats and things that will be submerged in water. Also I have found that Home Depot carries very affordable fiberglass products. You can be all set for about $25 so thats what were going to try next.
-Update-
The Aquamend holds up just about perfect so that is what I recommend.