Lots of good info on this forum. Do a search and look through the stickies at the top of the forum page - Pretty much everything and anything you'll need to know to restore your boat if that's what you decide to do. Lots of amazingly helpful people on here that I'm sure will chime in also. 1980's Bayliner construction was not very good and if your sole is soft and rotten, then likely the stringers and transom are too and you'll be in for a full restoration. Unfortunately very common with boats left out in the elements uncovered. I went through it myself with a maxum which is essentially the same as a bayliner in construction.
First thing is to start taking everything apart and out. Drill some holes into the stringers and transom and inspect the shavings. If they're dark and wet looking, you'll need to replace them. These components are the structure of your boat and need to be solid to be safe for use.
Good luck
