I run my M8274 with a single deep-cycle battery.
My winch was built in '76, and they made them a while before that, so make sure it's in decent condition as it could be really old. There are some good web writeups on rebuilding them if it needs any work. It shouldn't need much for $500.
Got mine for $100, the motor was froze, and it needed a cable and controller. Nothing major. Still using that motor :wink: