Congratulations MN. That appears to be in decent condition and as you note, in need of some basic maintenance.
Before going too much farther you might want confirm that it is canvased. In the closeup image of the bow, it looks like there is fiberglass. This would explain the absence of stem bands.
If it is glassed, then painting it would entail sanding it with a reasonably medium to fine sandpaper (220 is what I might use) using an oscillating sander, cleaning it with alcohol and tack clothing it before applying a few coats of marine topside paint. I always use Epifanes but there are plenty of other choices including Rust oleum. If it is canvased, the steps would be about the same except you would need to be far more careful when you sand it. You do not want to sand through or even into the filler.
For the inside, since you are going to (presumably) leave the outside shell (glass or canvas) in place, you will not be able to strip it. If the canvas were off, I would take the opportunity to strip and bleach, but keeping the glass/canvas on limits your options to careful and thorough sanding. Once it has been sanded enough to remove any loose varnish, you may then clean up the mess (shop vac, tack cloths etc.) before applying a few thinned coats of varnish. I would put progressively less thinned varnish on up a final un-thinned coat or two. I like Epifanes varnish for this but there are other good ones. Be sure you are using a marine spar varnish, not a urethane. Save the urethane for inside furniture.
WRT storage, I like to keep my boats right-side up. I generally hang them if I have room. If I have them on horses, right side up....hogged hulls annoy me. If you boat is glassed, then the shape is set so how you store it is less critical.
