boat is a 1988. it will cost more to fix than its worth.
also, it has a 305 cubic inch motor, not a 305hp motor
three things that say run:
its a 1980's bayliner
its OMC powered
it has sat outside for a long time
it will cost you about $3000 to fix the hull, about another $2500 in...
pull the distributor cap. if you have points, you should have a ballast resistor or ballast wire. if you have electronic distributor from volvo, then no ballast resistor/wire.
if aftermarket pertronix, it will need a ballast resistor.
crank for 10 seconds, let it rest for 60.
repeat (this will get the fuel pump to pull fuel and get the oil flowing in the motor
then pump the throttle and start normally.