[My95GTX]

I bought a rebuilt 95 GTX last year, ran it several times last summer with no problem till I ran it out of gas. Cleaned out the fuel filter changed the plugs and it ran just fine. I didn't winterize it like I should have, but did put Stabil in the tank. So this year I put a new fully charged battery on it and it started right up on land, put it in the water and no start. It's full of gas and oil, I put in different plugs (BR8ES), still no start. Both plugs are sparking. I took front plug out and it started and ran for a few minutes, put my finger over the plug hole and it died. It still wouldn't start in the water. Took it out and on the ramp and started it dry, then backed it into the water while running, and it ran for several minutes (with a lot of white smoke) but had to hold the throttle in, it wouldn't idle then it would die.
Now what?
I'm a newbie too. Any help would be so much appreciated.

 

[ktyamaha36]

Check Your Compression

 

[JayDawg]

Also what is your idle out of water at? It could also be at too low of an idle and all you need to do is bump it up a little bit. If the motor got rebuilt, then there is a possibility that when the carbs were removed, they idle got adjusted out of whack.