I have a Ranger 180VS Reata that currently has a F115 yammie on the back. It gets the job done and is great on gas, but the performance leaves something to be desired. I've been on the search for a 150 to replace the 115, and came across a 2001 HPDI 150 (non-vmax) for a very reasonable price. It has less than 100 hours, but those hours look like they were run hard. One cylinder is low on compression and the power/rpms won't hold at WOT. The person selling stated that the previous owner overheated the motor and the issues started after that. I am still negotiating a final price, but if I do get this outboard, I have some questions....

First, I would plan a full rebuild of everything - top to bottom. What items specifically should I be looking at for issues? I realize the block will probably need work and a new set of slugs would be in order. Does the direct injection get screwed up with a larger displacement? Are there any other components that should be rebuilt/replaced? Also, are there any specific capabilities to look for in a machine shop when dealing with a 2 stroke block?

Second, if I'm go through all this work, why stop at stock right?? I was eyeing up some of the hydrotec stuff - namely a Phase II or Phase III kit. How much power would each of these gain? The boat is mostly used for fishing, but does play every once in a while, so a good hole shot is desirable too. Generally with a 150, these boats run 55-57mph because of the forward seating and full windshield, and I would like to get the boat into the low 60s.

I realize this was a bit long winded, but do appreciate the time and any feedback!!