2012 350 mag Mercruiser alarm

Tkelly88Tkelly88 Member Posts: 3
Today i bought a 2012 Monterey 224FS. when we went on a test ride the boat and motor worked amazingly. Once i got it home it was a different story. After running the boat at idle speed i opened the boat up to about 3/4 throttle. The boat ran like a tope for about 5 minutes and an alarm sounded one time and the boat took itself back down to idle . i took it as the boat was low on fuel. After filling the fuel tank the boat had a hard time starting. I'm thinking it might have been trying to labor lock. After i got the bot running i an alarm would sound one time once ever minute. I'm not new to operating boats but i have  no idea what this could be PLEASE HELP!

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