When you run it, did you run it with muffs or in the water?
When running on muffs your are just able to idle cause the water flow from a garden hose do not deliver the amount of water the engine need.
The impeller produce more water flow then the garden hose can deliver.
When running with muffs...
Sounds like a bad battery.
Do as pnwboat suggest check all power connections and keyswitch.
Maybe you have a bad regulator/rectifier and when the battery have sit for some hours it is able to start the engine but the charging system do not charge the battery while running.
When you then try to...
outboardignitiondotcom has troubleshoot chart for you engine.
You have to check voltage from the stator, voltage from the trigger.
The stator charge the capacitors in the CDI box, the triggers give signals to the CDI box to fire (discharge the capacitors) to the ignition coils.
As your engine is...
As the solenoids has two small terminals the housing of the solenoid do not have connection to the control coil. Solenoids with one small terminal has the control coil grounded internally to the housing.
Connect one of the small terminals to ground and the other to the starting wire...
Just have to add.
The OEM workshop manual for Force 85Hp through 1988 year model calls for 135-155 PSI.
The 85 Hp Force are the same power head as the 85Hp Chrysler in bore and stroke, so I think the compression will be in the same range.
I have checked in my workshop manuals Clymer and Seloc (do not have OEM manuals for this engine) and Clymer says 145-155 PSI, Seloc says 150-165 PSI.
I think yours 150 PSI will stay there, maybe rise some PSI after break in.
But 150 PSI is definitely in spec and good after a rebuilt power head...
Winner I would suggest you to look at the recircular/puddle drain system. There are small screens that cloggs from carbone. They are under the "dog bone" cover at the same side as the fuel pump.
Clean them and check that the check valves closing as they should. The check valves are small pedals...
I have not read through the whole thread right now but I have some questions.
Do you have the Motorola CD box? Do you have points in the distributor?
If you have points, is the gap set at 010 in?
Have you clean the fuel recircular/puddle drain system? Setting of the air fuel mixture screws?
If...
The start circuit is as simple as the hot wire (yellow or yellow/red) when key in start position from keyswitch S terminal goes to the terminal stripe at engine. From the stripe to the interlocking switch (shifter needs to be in neutral when starting) at the shift lever and then to the starter...
Black wire from head is from the overheat sensor and goes to terminal "overheat" at terminal strip.
The sensor is a bimetallic sensor and when overheat it ground out.
You can wire up a horn or a light as warning for overheat.
Connect a wire at A terminal at keyswitch (hot, +12V) in RUN position...
It is in FrankAs video.
If you have belt driven distributor (Motorola) ignition system, you set at WOT 30 dgr BTDC static without cranking.
If you have magneto CDI system (Prestolite) you set at WOT 28 drg BTDC at cranking speed (dynamic). This will end up with 30 drg running at WOT.
No special tools to rebuild the carbs just clean out all channels, jets and nozzles.
Then set the float level right.
When turning the carb upside down the float should be parallel with the casting of the bowl edge.
Then adjust the float drop.
If you have Walbor carbs the drop should be 1,00-1,08...
If you suspect water in the bottom of the tank there is water in the fuel pump and the carbs too.
Maybe there was a bit dirt in the bottom too.
Clean the carbs, the fuel pump and the fuel line.
Okey, now you have to measure the output voltage from the stator and the trigger.
Output from the stator usually should be 180 VDC or more and the trigger voltage 0,5 VDC or more.
Sounds odd you do not have spark despite changing both CDI, stator and trigger.
How is the magnets in the flywheel...
Are the values you measured resistance?
740 Ohm and plus 340 kOhm.
Looks like the second stator winding is bad.
Check peak voltage with the DVA too.
The voltage is a more true parameter then just resistance of the winding.
The limit for the 3-4 cylinder Chrysler/Force is 0.04 in OD.
Pistons are available in 0,01, 0,02, 0,03 and 0,04 in OD.
If I do not remember wrong OEM pistons are not available in all those four OD sizes.
Aftermarket have all four, I believe.