Jim, welcome to the forum. This forum is targeted at owners of the O'Day DaySailer, but at 16'9" it seems our boats are in the same size class as yours. Many issues around cruising should readily apply across a range of similar boats, so I hope we can learn from you and you can learn from us. Few of us would be familiar with a Falcon 16, so tell us a bit more about your boat. From a quick peak at
SailboatData.com there are many apparent similarities and a few differences (such as narrower beam and integrated ballast compared to the DS).
Where do you plan to sail your boat and what kinds of cruising do you have in mind? Open boats like yours or the DS routinely participate in "cruising in company" style events, even for extended distances like the Texas 200. It's possible to put gear, food and water for two people for a five day 200 mile cruise.
When adding storage make sure to not compromise your built-in flotation, which is an important safety factor. Generally, you'd like all gear and supplies stowed (near the mast) with heavy items (batteries) placed low. If you feel you need a house battery, consider creating a dedicated place for it near the mast step.
A well designed set of shelves (or stacking / stuffable containers) may help you in managing your stowage so you can get more easily at the things you need. It might even be an idea to look into creating a hatch for your cuddy opening. It would help keep out any rain, but also prevents stuff from getting lost if you ever have a capsize. There are some designs for hatches discussed here on the forum, but they tend to be for those models where there's already a partial bulkhead. You may need to consider creating this in sections, so the pieces remain manageable, but also consider something like a net on the outside to hold items you need underway - and a hatch in a hatch (like a door in a stable door) to allow you quick access at some items you keep at hand in the cuddy. Perhaps on hooks on the side. A friend built a hatch where the top segment could fold down so the entire top/rear part of the stowage could be accessible under way.
For sleeping on board: If you do it right, the boards from the hatch could the be correct size to fill in the space next to the cockpit seats so that they become wide enough to use as sleeping platforms. Modern tents are so small and light that it might make more sense to either use a single person one as is, on your sleeping platform, or to take the bottom out a larger one and use it instead of a traditional boom tent. Or get the metal collapsible tent hoops to augment a boom tent so it's a half circle, not a triangle. That should give you more room. The fabrics are so light, it should be easy to just cannibalize an existing one. Let us know what you come up with, or what designs appeal to you.
Your question about your structural repairs is a bit specific to your boat type, so this forum, and particularly this section of it, is probably not the best place to discuss that. You are welcome to look through the many older posts here, many of which describe specific structural repairs or general techniques. I'm sure, if you spent a few evenings poking around the archived posts you'll find many answers to questions you may not even knew you had.
Finally: is there a "cruising rig"?
First, you describe yourself as a newbie. The last thing you should do, without sailing experience, is go and try your hand at rig design. You're much better off sailing your boat for a season or two and figure out what really does or doesn't work for you. If your boat is unavailable due to structural repairs, find someone in your area who will sail with you (even if it's on a different type of boat). That experience will let you master the
basic concepts and prevent you from making any number of bad decisions because you will now how certain things are supposed to work in a range of conditions.
Second, I sometimes think that too few sail controls are worse than too many. Some controls that can look superfluous to a beginner are actually essential if you want to be able to weather a range of conditions in your boat. Even if the go beyond the most
basic controls. A boom vang will allow you to keep your sail flat, even if you let out some main sheet during a gust. A flat sail will not suddenly start to power up when your reason to let out the sail was to help depower your rig. Having your boat work with you instead of against you makes all the difference on a long cruise. A set (or better two or even three) of reef points is essential if your cruising grounds can experience stronger winds. Without
reef points, your only option is to douse your sail completely and either drift, or rely on the motor to get you out of the situation.
Third, you should set things up so you can confidently sail in any conditions that you realistically expect (other than dead calm). The rig should be your primary mode of propulsion, as much as possible. With that mindset, you won't skimp on some of the add-ons you'll need in stronger winds, and you'll also be more cautious about going out when you are not sure you can come home under sail (again, except being becalmed).
Lastly, be prepared to begin a lifetime of learning. Many people describe that aspect of sailing as the one that keeps them interested. You'll make your unavoidable beginner's mistakes, but hopefully ones that let you walk away and learn from them. Good luck!