Hey Guys, having some issues starting my outboard and was looking for future steps in troubleshooting. It's a 2005 Mercury 90HP.

I know my battery is good (tested it and all).
12.5V steady state, >9.5V when cranking.
20A fuse is good.

I have 3 terminal connections to my solenoid. 1 is 12V from battery, another is from relays, and the other is from 20A fuse and 2 hot wires from regulator/rectifier.

When I switch the key to run, I read 12V at the input of the solenoid. When I "crank" the key, my voltage drops to 6V at input of solenoid. Any thoughts?

Note: I disconnected the terminal from the relays, and had the same issues with the other 2 terminals connected.