In the same boat
Hey! I'm new here also and picked up an '86 V20 back in May. Same deal, first boat, for me and family to use in the bay and coastal waters. Being only a few months ahead, I can only relay my experience in that it's been more of a hobby project fixing it up than actual boating. Little fixes here & there, troubleshooting wiring and what not. So depends on what you're looking to do.
The original Johnson 140, compression was good, started & would go at speed well, but wouldn't stay running at idle. Others tell me that's typical for old 2-strokes. Had the carbs re-done and got it running nice. Then last week it just crapped out mid trip, piston blown or a bearing or something. Probably due to age, my bad luck and inexperience. Now I face the rebuild & repower or sell and get a newer boat crossroad. I do like the boat, but not sure it's worth putting 10k+ into a new outboard or not.
But, the boat rides great in waves, on the lake, had it out on quite a few trips over the summer and was loving it for fishing, snorkeling, tubing and all that. It's a spacious boat. Hope that's helpful, good luck with your decision.
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