While I wait on a lift eye, I thought I'd reach out to the community with the video below. I've rebuilt 4-cyl, v6, and straight 6's but have not come across a noise like this before and since we're all eager to self diagnose via webMD, I thought it may be worth a shot to lean on your experience and later see just how close anyones diagnosis was 
Outboard: 90HP, 3-cyl, Mariner/Mercury
SN: OC282743
Year: 1988-1991 *EDIT* based on part numbers, this range is more accurate
Issues as described by seller: Engine runs very rough
Issues i've found:
Anyone want to venture a guess? I'll post another video of tearing into it.
Video of cyl 2:
Outboard: 90HP, 3-cyl, Mariner/Mercury
SN: OC282743
Year: 1988-1991 *EDIT* based on part numbers, this range is more accurate
Issues as described by seller: Engine runs very rough
Issues i've found:
- Gas Tank about 1/4 water (DEFINITELY run through engine by previous owner)
- Compression
- Taken while considering purchase. If I had known condition, i may have shy'd away
- cyl 1: 110
- cyl 2: 80
- cyl 3: 105
- Cyl 2 is the cause of all engine noise
Anyone want to venture a guess? I'll post another video of tearing into it.
Video of cyl 2:
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