Gee, what year? Merc 85HP motors were made in the 70's with 4 cylinders. They made 80HP motors later on in the 70's and perhaps some newer models as well. Is it one of those oldies from the 70's? If pre-1976, it may have a distributor. The ign system was sound, but parts are expensive, and a bit hard to get.
In any case, if it is older, say early 2000's or older, most shops will not work on them. At that point, either you fix/maintain it yourself, or it is an nice black anchor.
if it is from the 70's, the engine wiring (if not replaced) is likely bad. The engine harness is easily replaced ($150 or so), but the distributor wires also rot out, and the distributor casing would need replacement ($250 or so).
If it were me, I would not buy a motor with a distributor-based single coil ign system. If it has the more modern ADI system (multiple coils), I would consider it, if the compression in all cylinders was within 15%, and I was pretty sure the gearcase was good. I would be prepared to maintain it myself.
Controls will be at least $150, plus cables and likely some way to graft the wiring will be needed, as the wiring has changed several times between the early 70's and 2000.