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If the kids are teenagers I would only power the boat to run a max of 40mph.

As for engines, everyone makes a decent 150hp. Suzuki are a bit less, Honda the most expensive. Prices range from 16-18K for a full replacement (binnacle, cables, harnesses, gaugues, key switch, prop)

For tubing I would buy a 4 bladed prop you can swap out. Gives better acceleration/maintain speeds.

Changing boats is not necessarily the best option. Prices are still high and you don't know the engines history.