RedactedNarrative: On September 17, 2022, vessel started taking on water soon after a launch the vessel sunk next to a residence.  No injuries were reported. OP1 told me, he launched his vessel on Saturday, September 17 to conduct sea trial and sell it.  Few hundred yards from the boat ramp, he noticed the vessel started taking on water.  Soon after, vessel lost power and started drifting toward the west side of Intracoastal Waterway.  Vessel sunk behind the residence located at North Flagler Driver. OP1 spoke to USCG, however, he failed to notify local law enforcement or FWC.