2002 4 hp My motor is soo close to running! Help!

Alright so I got a lil 2002 4hp Mercury 4 stroke that is going to have to work for the rest of the season till I can afford something bigger for my Achilles. It came with the boat which I got for a great price, but the little mofo doesn't wanna stay running. Wondering if anyone can maybe shed a little light as I'm not too seasoned on boat motors.

So anyway it was pretty salted up when I got it, but i put on a new carb, new fuel filter, and new fuel pump. Flushed the oil, changed the gear case lube, and got a new spark plug. Ive checked and it is getting spark, fuel is flowing, and it seems to be getting good compression. The impeller seems to be fine because I'm getting good water flow going through as well.

So heres the problem... When she is cold, she cranks on pretty easily but after idling for 1-2 mins starts idling lower and lower and then dies... Then she dont wanna come back on!!! Any ideas what my problem is??? Thanks guys!!

Re: My motor is soo close to running! Help!

Float level?

Re: My motor is soo close to running! Help!

set to rich, and flooding the motor. adjust the air/fuel mixture screw to 2 and 1/2 turns out. Then fire it up and if the idle starts to drop adjust the idle screw alittle bit. also check to see if your choke is opening and closing properly.

Re: My motor is soo close to running! Help!

Choke is opening and closing... Ill have to adjust the air/fuel misture screw... Is that the screw on top of the carb?? Attached to the part that moves when you throttle up or down?? Also I was talking with one of the mechanics at the inflatable store... They don't do engine work on Mercs, but do service Tohatsu and I asked him what he thought. He asked if the water that was pissing out the engine was hot and I said yes it is. He said it was supposed to come out the same temp as it went it and that I needed to get a new thermostat and I should be ok. What do you guys think about this??

Re: My motor is soo close to running! Help!

The water shouldn't be hot. Could be thermostats, but most likely it is the impeller. Change that, and the air/fuel screw should be on the botton, or the side of the carb.