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I've got a '98 115TLRW, runs like a beast. So I reckon what you should be looking out for is how good/poor the engine has been maintained throughout the years. Poorly maintained engine of that age will only give you issues down the road. But if it's been given lot's of TLC then it's a gem.
I rand a 1997 130 Yamaha up until last year. Sold it to my kid who is still running it. over 2000 hrs.
2 Oil Lift Pumps (Magnets fall off of the housing)
1 Bearing under the Water Pump from low Lower Unit Oil (just checked it yearly for water, drained enough over 2 years to run the bearing dry)
Drain Carbs the end of each year, Plugs every second year, LU Oil Change every second year, and go.
