Anything can fail if not maintained. When I got my boat w/120 hp force on it. It didn’t have a buzzer; I ended up putting an after market buzzer and a warning light on it for good measure and the whole wiring was a mess, blown head gasket and everything else had to be gone through because when you notice a pattern of neglect you tend to wanna get the thing to a reasonable point of reliability, but anyway I’d pull the thermo cover and see what’s up first then move on to the exhaust/water jacket and or head gasket. But I’d also make sure the fuel mix screws were adjusted correctly on both carbs. Did you check compression? Get NGK plugs-they are great