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The most lost or missing part is the spark plug covers. Two reasons they where taken off. First, easy access to the spark plug. Second, with the open wire terminal to the plug, it can and would short out to the plug cover. (You can cure this by spraying the inside of the cover with an insulation spray). Look around the garage, barn or where ever the engine is stored, on the walls for a nail in the side of the wall holding those covers.
For a PO, it could have been "hot rodded" on a small boat. Because they look like a racing model SR or PR, the local kid thinks he has a race motor and would over rev it. Simply rock the flywheel back and forth in all directions for play. More than say 0.004" it is lose and may need re-bushing as well as inspection of the rod and crank condition.
The Speeditwin for some reason didn’t get this abuse, but check the same way.
The Mercury KG-7’s lived the same type of abuse as the PO. It looked liked the engines raced at the time.