1991 Bolger Micro Repairs

I recently purchased a Bolger Micro that was first built in 1991 and
later rebuilt by the owner I purchased it from 6 years ago. It's
16.5' which is interesting because it's halfway between the advertised
length of a Micro and a Long Micro and I'm not sure where the extra
length comes from.

Anyway, it's in excellent condition, beyond needing paint, except for
some damage along the seam where the bottom boards meet the side
boards (is this called a chine?). It appears that this seam was
fiberglassed, but in several places the fiberglass has
deteriorated/been damaged and is peeling back. I believe there was
only a single layer of fiberglass to begin with.

My plan to repair the damage is to sand down the damaged spot and some
distance around it, fill in any gaps below the surface with thickened
epoxy, and apply a new fiberglass "patch" over the area. Does this
sound like a good plan? Is it possible/desirable to apply more than
one layer of glass to reduce the chances of this damage occurring in
the future?

My other question is with regards to paint. The bottom paint is worn
and peeling badly on the keel. After I make the repairs to the
fiberglass, I'd like to repaint the underside (below the waterline) of
the boat. I've read a bunch about paint and it seems to be very
controversial. The essence that I've gleaned seems to be that the
ideal is 2 coats of epoxy-based paint followed by 2-3 coats of
oil-based house paint or (preferably) marine paint. I've seen someone
suggest using garage floor paint for the epoxy coats.

What would the groups recommendations for paint be given that A) I
live in Albuquerque, NM and so would like to purchase paint from a
home improvement center, woodworking store, or actual paint store,
none of which are likely to carry marine anything and B) I'm a casual
boater and don't want to pour a ton of money or effort into the boat
while still getting reasonably durable coverage that will last for a
few years of trailer-sailing on NM lakes?

For above the waterline, I think I'm comfortable with just some good
quality primer and outdoor house paint.

Thanks!
- Brice