Posted April 26 2012 - 02:12 PM
I wouldn't go so far as to say I wouldn't buy it, if I was young, on a limited budget and wanted a boat. Sometimes these old boats are great deals, and you seem to be going about it in a smart way. I've bought a many a one through the years because I could do all the repairs myself. Yamaha is a good motor and if it's not used up will make you a good motor. The first thing you need to do is a compression test. If that's good, take the bottom plug out of the lower unit and drain a small amount of oil. It should be black, unless it has just been changed, (then I would be very suspect) if any water or if it comes out with any signs of a milky substance, walk away from it.
If the Lower Unit and compression check ok, take it for a water test. If it sounds good with no stange noises coming from the motor, anything else wrong with it can be repaired without breaking the bank. Now, if you do buy it, the first thing you want to do before using it is to replace the water pump, that's a must.
About the only concern with the boat is the piece of plywood in the transome, be sure to check it. Tilt the motor all the way up, lock it in place and bounce up and down on the mid section a few times and watch the transome. If it's letting the motor move and it's flexing in and out, the wood will need to be replaced. There should be no movement, except the boat itself bouncing on the trailer. This is not an easy task in a lot of jons, and can be very expensive, more than the whole rig is worth sometimes.
Now, if the motor and transome check out, just about anything else is considered normal wear and tear and can be fixed at reasonable prices. The more you can do yourself, the better the deal the boat can be, or the more you might be able to pay without getting burned. Plus, most of the other stuff can be done a little along so it's not a major expense right up front.