OK, well from the picture, the engine looks to be a 1964 9.5hp, which was the first year for this model. Well, I would definitely drain and refill the gearcase. This is not a hard job, but an easy one to screw up. Watch some of the videos beforehand and remember not to remove the phillips head screw on the bottom of the gearcase, this will cause the shift linkage to drop down inside the gearcase.
Does this engine have a metal or plastic fuel tank? If it has a metal tank, I would definitely drain anything inside and have a good look inside to make sure the tank is not rusted or fouled inside. This is a two stroke engine and requires a 50:1 fuel/oil mix: 1 pint of TCW3 outboard oil thoroughly mixed with 6 gallons of regular gas. There is no oil to drain from the engine, it gets all it lubrication from the fuel/oil mix. Running the engine even for just a few minutes at high RPM without any/or enough oil mix with permanently damage it. The engine is water cooled by a rubber impeller, so don’t run it out of the water, even for a few minutes. Running the rubber impeller “dry” with damage it quickly and can create some nasty cooling issues caused by rubber debris clogging up passages.
I would definitely check the engine for spark, I”m guessing you don’t have the proper flywheel puller so don’t attempt to remove the flywheel.
Watch some instructional videos and then get back to us with questions before attempting to start the engine.
