You might have a hancing piece in any place that needed a graceful transition.
Work in small dimensions doesn't seem to be as impressive as more substantial work, but it requires thoughtful attention to detail and forces us to focus our skills. Doing small versions also can be a way of working out design elements for later work when you scale up your design.
There is no definitive book on halibut schooners. It's hard to define a "type" there is so much variation. Some are transom sterned, but others like the one I've carved are canoe sterned. All had moderate deadrise ( not flat bottomed), and tended to be plumb stemmed, but not always. See the problem?
Pine is a worthwhile wood for carving: It's readily available in a variety of species; many times, it will be the economical choice of wood, and with sharp tools can yield a rewarding carving experience.
Sometimes dreams are surreal...
Rather than think about the one indispensable tool think about the suite of tools that make your work possible.
The Secrets of the Masters are sometimes the first lessons learnt.