I'd ask the seller when the water pump or impeller was last changed. If they don't know, I'd ask him to change at least the impeller before the sale because who knows if or when the previous owner did it. If you look at my recent thread on this, even though my impeller was severely worn, it was still pumping a healthy amount of water, so you cannot tell by the indicator stream alone, you have to know when it's been changed last.
If the gear lube in the lower unit and the crankcase oil (and filter if there is one) haven't been changed recently or it's not known when they were last changed, I'd change them. This is a simple process and takes about 20 minutes, IMO everyone should learn how to do this themselves.
Beyond that, you can kind of check the compression by the feel of the recoil cord when pulling slowly, but this only really will tell you if things are very bad and there's next to no compression. To get an exact reading, you need a compression gage. Of course, you'd also need to look up the spec to see what the acceptable range is.
I'd be really surprised if compression was an issue, but you don't say year of the outboard or how old it is. As Mac says, if there's healthy resistance when pulling the cord SLOWLY by hand, it's almost certainly not an issue.
Very rarely do outboards die from over-use, it's far more common to see problems from them being rarely used and not stored properly. It's completely common to run into 2 stroke outboards from the 1970s that have been used extensively but still have their compression in spec, so it takes a lot of use to wear out an outboard. As long as it hasn't been used in a commercial application where it's been run hard every day of the work week, and generally you can tell by the condition if this has been the case.
Grouse
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