To answer your question, I would first ask the question.

1. How much more would you use it at other times if you bought a boat?

All fishermen want their own boat and if you fish regularly its pretty important. However, if you only fish a couple times a year, it can cost a lot to maintain (taxes, license, repair, gadgets, etc). I always encourage people to bring their own boats to Reelfoot, but If your priniciple use would be an annual trip to Reelfoot, then I would tell you that you will spend less money and catch more fish by contacting one of the reliable guides around the lake, especially if the bite is not strong and the winds are. Boats cost money to own and keep in good working order, and there is something to be said for letting someone else cover that cost, plus u get the benefit of their skill and their network of fishemen.

Second, the question of the 12 foot boat.

I would not buy a 12 foot boat to pull to Reelfoot. If your concern is fishing where the fish are when the wind is blowing and being safe, the 12 boat won't be 5% better than the rental boats. I started fishing Reelfoot on a 16/48 duracraft welded boat. It was a good heavy (i thought) boat. Wind was still killer with it. I would set 16/48 as a bare minimum for fishing in any rough conditions. In my opinion, if you are bringing a 12 footer, you are just as well with the rentals.

Now if you are using rentals there are some easy things to do to improve your fishing, you just have to think ahead:

First buy a 12-14 lb mushroom anchor and some decent anchor rope. Hang it off of the back beside the motor and fish with your back to the wind. Fish, pick up anchor, drift, drop, repeat process.

Second got to your local sptg goods store or call Louie at Grizzly and buy some of the clamp-on pole holders. They usually cost 2/50 - 3.00 apiece. Take off the clap and throw it away. Obtain the bow with measurments and cut a 1 x 4 long enough to go across the bow and clamp on with C-clamps or some other device (wire, etc. be creative) drill 1/4 inch holes in the 1 x 4 at what ever spacing you want and attach the pole holders with 1/4 inch bolts and wingnuts with oversize flat washers on top. Make one for the front persion to fish off of the front and one for the back with pole holders on each side (probably max 3 each side). This may sound complicated but it only takes about an hour to build; takes down to take up very little space in the truck and will greatly improve your fishing. (Even if you don't catch more you will look like you know what you are doing.) I have used this rig with success for people who have come in to Reelfoot unprepared for our spider rig fishing. I assembled a front pole holder to wire to the front of a bass boat in 10 minutes in the parking lot of Waltons and the guys caught fish.

Third, put you casting rods up and leave them at home. There is a reason that all of the locals are spider rigging. Again, call Louie and buy some inexpensive fiberglass telescoping poles with eyes they are not expensive. Get at least 12 footers. Go to wal-mart and buy the cheapest spincasting reels you can get to go on them (durango most likely)

Fourth, buy a bundle of double crappie rigs and fish minnows. If you don't get any good reports from someone at the bait shop, go out where the mass of other boats are fishing and put the bottom hook almost on the bottom then experiment on raising them up.

My thoughts.
Good Luck and be safe.
RCO