You mentioned that your boating was on Lake Erie with 245LTD. I use to boat extensively on North Shore Canadian side with my boat. I already mentioned that these boats handled rough water quite well. I was asking him if the boat he was considering had Mercruiser/Chev or OMC King Cobra sterndrive. I told him that I had the 460Ford King Cobra, and well it has been good that he should look for Mercruiser set up on this boat. Since OMC's demise, locating parts will become problematic & even more so with passage of time. So far I have never had major problems $$$, but is certainly a valid consideration.
I would think you had more than adequate performance with
small block Chev in that hull.

Our 245 has 4" thru hulls (shotguns) under the swim platform as well. It had a stock BBC mercruiser/ Bravo 1 in it when we got it. I have since installed a slightly warmed up 502 Mag. So far without touching the timing, or jetting the carb...we got it to go 65.3 mph on the GPS with two 240 lb guys in it and a half tank of fuel. I think if I finally figure out this prop voo-doo stuff, and tweak the motor a little...I think itll run 67. It starts to dance around a little at that speed...but its alot of fun. Kids love the big sun deck on the back, and the factory built in swim platform is nice. Cant really complain...wife even said it was the best family purchase we ever made.

The small block was weak when it started out, hard to plane, but I also always had a weekends gear and 3-5 people on it, it was better after engine upgrades but the bigger propping then made it still hard to plane, in my opinion, any performance boat should have BBC's

The 245 I am interested in had the 7.4 king cobra (460 cu in). I believe it has trim tabs. have to look at the images again.

Everyone seems to be afraid of the 460/Cobra stuff, I am a Ford guy and the 460 is a great engine, and the drive, well... from what I know about the Cobra they tend to break less then a Bravo, parts are more expensive but if they don't break then whats it matter?

460 Ford equals small block Chevy characteristics but on a much bigger scale... very good engine! If you're going to keep it mostly stock, then this is a very good, strong platform. Marine performance parts may be harder to find though and more expensive.

The 245 LTD is a great boat! Good luck on the negotiations.

Post pics!!!

The Ford 460 engine has been very reliable over the years I have owned it, and the King Cobra is a strong stout drive. You may have to jump thru a few extra hoops to get some parts is all I am saying. Do your regular preventative maintenance, oil changes in drive and engine, plus your filters, tune ups and you will be fine. With the internet and forums like this you for advice you won't have a problem.