welcome wads,
I also had a bad cable protector boot. They sell them at any West marine about $30.00,
But you do have to remove the cables from the engine to replace the boot.
I would check the following as I just got a used 86 204c
Look at the fuse panel behind the console, make sure the fuses dont have any corosion, you can get a good look at them by removing the cover panels from inside the cabin behind the console. held on by some philips head screws, Mine needed some cleaning and most of the fuses were coroded.
If the fuel tank is original,
Definitly pull up the fuel tank cover and check that tank,
I will be replacing mine in the fall, I cleaned it up with woodys wax and replaced all the fuel supply lines and filler line.
Make sure to reseal the fuel tank cover with marine grade silicone caulk.
and if the deck plates are original,
Replace the deck plates on the bilge and fuel tank cover with new ones if they are original, make sure you reseal them with marine grade silicone.
Hope this helps, Good luck with her and have a great summer......