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Universal Hovercraft offers a hovercraft kit that converts to fly four-feet above the ground or water. Powered by a four-banger automotive engine (with an optional 100hp EA-81 Subaru motor), the UH-18SPW Hoverwing costs less than $5,000 to build. Crashing into an errant buoy? Priceless.

Personal hovercraft doubles as an aeroplane [Gadgetryblog]