Whoa, don't go sealing around that air blower with anything--you'll very likely damage the hull with too much outward pressure!! You just need to get the inside of the hulls pressurized a little, and that can be done by holding the blower (I've used a reversed vacuum cleaner) and inch or two from an opening in the hull. DON'T SEAL OR TAPE AROUND THE HOSE!
Regarding the leaks, you don't necessarily need a bottom job. Seams, fittings, gaskets around portals and drain plugs--these can let a tremendous amount of water in as well. My current boat had major leaks when I bought it, but after resealing and replacing gaskets, etc., I can sail all day and get no more than 1/2 cup in either hull.
Hey, the price of the boat seems great--probably a very good deal. Have fun!
Kevin