Yeah I think I really want a Debonairs or older Bo but the costs and nightmare stories have me a little concerned I'm not quite where I need to be budget wise. I was planning about $12k per year to fly about 100 hrs. Any suggestions for other planes that go fast can carry 4 (2 adults and 2 babies). Cheap ongoing maintenance is my goal but I'd like at least 130 knots i think. Might have to go fixed gear or Mooney M20 C. Gotta get thru flight training and CFI work doesn't pay well.
Just my own anecdotal data point ...
In 2003 I sold my 160 hp (well, officially 157.5 hp) Grumman-American Cheetah and bought a nicely-cared-for, but largely original, 1959 K35 Bonanza. We were doing a lot of 1000+ nm (1 way) cross-countries in those days, so it penciled out in terms of performance and range. The Bo had a nearly-new 260 hp IO-470-N, in place of the original 250 hp IO-470-C. It had the old-style two-piece windshield, small rear windows and scatter-gun instrument panel. To be honest, I liked the retro look.
First thing I discovered was that on the long cross-countries, the Bonanza at 155 KTAS used less total fuel than the Cheetah at 120 KTAS. Efficiency does count on long trips. The first two annuals on the Bonanza cost me less than the last two on the Cheetah. Go figure.
The bigger expenditures came trying to update a few things on the Bo that the Cheetah would not have needed -- a new interior, some avionics, engine monitor, etc. The electrical system on the Bo gave me fits and required repeated trips to the shop, until that issue was finally resolved. (Why did the Bo have a new engine and prop? Because the 83-year-old prior owner had a complete electrical system failure and had to crank the landing gear down. It seems he didn't crank it quite far enough, for the nose gear collapsed on landing.)
Then the auxiliary fuel pump started to leak. They don't make that old type of pump any more, and replacing it would have required an STC to modify the installation to accommodate the new-style pump -- a $4,000 job. Fortunately a shop at the opposite corner of the country was able to overhaul the old pump and return it to service.
Then there was the time nothing happened when I put the landing gear switch down at the end of an early-evening flight, and I had to crank the gear down (remembering the prior owner's sudden stop on the runway, though in my case the gear stayed down on landing). I feared a big repair bill, but apparently the old gear motor just needed to have the gunk cleaned out of it, then all was well. Then another time, the flaps didn't work, and the flap motor had to be replaced.
The most unnerving time was when the engine quit when I was operating on the aux tanks. I quickly switched to a main tank and it restarted. Upon landing I checked the aux tanks, and they were still half-full. Turns out it was just a bad O-ring in a fuel cap, and suction on the top of the wing (and a good morning to you, Dr. Bernoulli) stopped the fuel from feeding past the checkvalve.
Fortunately I had no problems with the magnesium tail feathers or the fuel tank bladders on this airplane.
Overall I was quite lucky and avoided catastrophic expenses. I really enjoyed the airplane, but after five years with the Bonanza I decided to opt for something simpler and traded it in on a factory-new CubCrafters Sport Cub.