sea king found in basement

Hello at my grandfathers in the basement i found a old sea king which appears to be in good shape, i would like to rebuild it and dont know where to start. What normally goes wrong with them that i should replace and etc.
The modle number is.... Z4669011A
Serial Number... 87729
If any one could give me some guidence that would be great.
Thanks, Alex

I think your model number is 74GG9011A which would make it a 1946 5HP twin cylinder made by Gale. Almost all the older motors made by OMC (Johnson, Evinrude and Gale) have problems with the coils. Pull the flywheel and look at the coil. If it is cracked it needs replacing. Since the motor was in a basement there maybe rust built up around the rings and the gears in the lower unit. If the coil is intact try cleaning the points and setting them at .020. The people over at http://www.aomci.org/ can give you more in-depth pointers. Clean the carb out good. Run the fuel/oil ratio at 16:1. If possible avoid ethanol. If you do need to use ethanol it is a good idea to turn off the fuel and let the motor run out of gas or drain the carb to keep the float from having its coating eaten away.