"Hi, welcome to the forum.
"Hi, welcome to the forum.
I believe that what you have is an AQ131D 4-cylinder OHC engine coupled with a SP drive:
http://www.volvo.com/NR/rdonlyres/CFF70565-CF62-466A-8F54-F60A2E742886/0/230A_SP _1989_en.pdf
If this is the case, you can download the manual in English for the engine from the following link (select AQ131B under Marine Engines, it is the same engine as yours):
http://www.volvo.com/volvopenta/na/en-us/marineengines/pub_search/
Where do you start? A bit difficult to say without seeing the engine, but knowing it is a OHC Volvo, I would suggest the following:
1) Make sure the engine turns. If you cannot crank the engine with the starter, try using a deep socket and a breakbar in the front crankshaft pulley bolt (turn clockwise). Consider removing the spark plugs. If the engine turns, that's good news.
2) Remove alternator, starter and distributor from the engine and service them (the extent of servicing depends on their condition).
3) Verify that the timing gears are not pitted; and if they are, replace them or the timing belt won't last. You can try getting used gears from an autowrecker, as the automotive timing gears are identical to the "marine" gears. Also, replace the timing belt.
4) Pull out the exhaust manifold and verify the exhaust ports in the head are not wasted. If you find that the exhaust manifold water discharge posts in the riser section are blocked with scale, and since you probably don't know the boat's history, consider buying a new manifold.
5) Remove the carb and clean it internally.
6) Remove the coil and the overload fuse and move them away from the engine.
7) Replace the old spark plugs to cover the holes in the head.
8) Cover the engine vent in the head cover, as well as the distributor housing, the intake manifold (or carb if still installed), and the exhaust ports. Then consider using an engine cleaning product on the whole engine and afterwards use a brass or plastic brush to remove rust and other deposits, then use a pressure washer to clean the engine externally. After the engine has dried, consider painting it. Afterwards, install the alternator, starter, coil, fuse, etc and spray the whole engine with Fluid Film (or Corrosion Guard or similar) to protect it from corrosion. Consider replacing the pulleys (alternator, water circulating pump and/or crankshaft) if they are pitted, or they will chew the V-belt in no time.
Most important, consider buying a copy of the Seloc Sterndrive repair manual (1968-91) if you want to do your own repairs/maintenance in the engine and/or sterndrive.
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