I'm looking at a 1987 17' Baretta with a mercruiser I/O engine (4 cyl, closed cooling, 165 hp). Found no soft spots in hull or transom, and tried to do compression check but could only get guage firmly into first plug hole (150psi) due to adjacent parts (heat exchanger?). Boat had the following symptoms at checkout:<br />1) Took on about 2 gallons of water during 45 minute test run. No obvious leak areas. <br />2) WOT gave 35 mph and 4200 rpm.<br />3) Temp guage seemed to read OK, about 160, but engine and heat exchanger by plugs was very hot while trying to get plugs out. Plug electrodes looked white.<br />4) Engine dies if you try to give it any gas in reverse-only idles in reverse.<br /><br />Do the experienced guys here have any helpful guidance? The seller is now very "motivated", so I could get a good price.<br /><br />Thanks.