I went to the website, it's a 29 outlaw, if you are talking about the one with the yellow trailer. Thank you!

Also I found a 2003 Formula 271 with 300 hours on it with a 496. It's on Ebay. I got a hold of the guy and he said he would let it go for $35,000 cash. It's also on Pop Yachts. Hell of a deal, I think. But it's 15 hours away. What does everyone think about it? A little more than I wanted to spend. Thanks again for all the comments! Much appreciated!!!

I'd run-not-walk from ANY eBay vehicle, personally. Craigslist is iffy enough but far more reputable.

Compression check all 135 except cylinder 5. Thoughts, it was 100 on cylinder 5.

leek down test

New

New plugs in picture

Compression test with a squirt of oil in each cylinder to see if compression comes up to help determine rigs or valves.

Price drop
possible head gasket issue bank 1

He is down to $19,500 and I think I can get him down to $18,500.

I have a number of a good marine mechanic, I bet you will need one at the beginning of summer, sorry they are all 4 months backlogged then.
Beware. Do a leak-down test and be confident what is the problem. If it is rings or worse add $6000 to price, minimum for repair.

I have a 96 272 and have nothing really bad to say about it. It rides well and is an overall decent boat for the single under 30 class, but definitely get a survey. Plan on replacing all the wood on it. I learned this myself. The boating market was good back then and Baja was pumping these things out like crazy. Needless to say quality things like treating bare wood was overlooked. My transom was so rotted at 450hrs there was no wood left around the drain plug and gamble ring. The entire backrest and gunwale pad woods were gone too.