Looks super clean. If compression checks out, those crossflows are very strong engines and really simple to work on. Thirsty on gas compared to 4 stroke but more torque out of the hole, and at that price you can afford a lot of gas.You should be able to find an old Evinrude/Johnson 90 hp V4 dirt cheep that will meet your needs for years to come.
http://bellingham.craigslist.org/boa/5947155564.html
Local option that could be a look if you can haggle down the price and can either do the work yourself or have access to reputable and cost effective mechanic...
https://comoxvalley.craigslist.ca/boa/5951389345.html
VRO problems came from the first generation gas/oil pumps in the mid 80s. Second gen and beyond were fine. They'll run OK on premix, but only OK. Ignition and carburetion were designed/calibrated for VRO's lower oil mix ratio at slow speeds - all the way down to 100:1 at idle (hence the acronym VRO: Variable Oiling Ratio). It wasn't simply about convenience, the concept was to reduce plug fouling and improve idling. Even well-tuned premix two strokes have a tendency to stall going in and out of gear, this is why.
not true in all cases. im insured with beacon, with a declaired hp of 300, slightly over the max rating of 165. all good as long as you discloseIf you overpower your boat and have an accident, your insurance policy (providing you insured the boat, a good idea if you're into water sports) can be voided by the insurance provider. Just saying... :-(