the 5.7 is probably the best hp per dollar you can put into a boat. Consider the motor junk. Price out a new long block(marineenginedepot.com). What kind of shape is the drive and transom plate in, that's where you can blow the budget on this job. And check the manifolds/risers, I wouldn't put used manifolds back on a new motor. Check the transom of the boat as well, if you got to put a transom in it, its hard to pass on the idea of a bracket boat. Are you running in fresh or salt water, what part of the country?
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