Compression is the main thing, 135psi would be perfect. Mine blows 122psi last I checked still runs fine but I think it's getting too low (worn rings and pistons) and probably should be rebuilt before something nasty happens. I intend to find out how low is too low, certainly 100psi is the absolute limit if it makes it there in one piece.
There are two exhaust pipe brackets on the engine that tended to fall off into the bilge.
Try to figure out what type of 2-stroke oil seller is putting is in the tank, shouldn't be TCW3 outboard oil. Seadoo oil and outboard oil shouldn't be mixed together, will gel and turn into goop. If it has the wrong oil you need to clean the tank and lines of the old oil and refill with Seadoo oil or an API-TC rated full synthetic 2-stroke oil.
Take a quick look at the RAVE valves, see if they look complete. Sometimes people try to clean them and lose pieces/parts or reassemble incorrectly. Mine were gummed and sticking, difficult to remove due to carbon buildup. They were so dirty they needed cleaning twice that 1st season to get them working correctly. They'd never been serviced.
Water test if buying a turn-key priced boat.
Cosmetics, door hinges on the port side front storage locker are plastic and will rot, need to be replaced.
Bilge pump and other accessories like bilge blower, fuel gauge sender in the fuel tank might need repair (internal chip fuse blows easily for no reason).
Check steering and throttle motion, cables can stiffen up if yes you need new ones.
Look for cracks in the gel coat, especially underneath if it's been grounded hard or around the rub rails especially the bow where it might've hit a dock too hard. Look for any kind of delamination, lose glass sections separating. I haven't heard of this on these but there's no wood just foam coring so delamination can become an issue if water gets in the core and loosens things up, can add a lot of weight as well. I try to make sure the bilge doesn't fill with water that can get into the core, I keep it dry as possible.
The ski tow pole can bend if pulling a heavy load. Sometimes pulling a tube if the tube submarines then the pole can be bent over. Check it pulls up okay and all the parts are there, it shouldn't fall back down on it's own due to there's a little rubber cord down there that provides friction. While towing I pull mine up only just far enough to clear the rear lid so it's less apt to bend. It's still straight.
Usually you can tell if a boat has been cared for or sat outdoors uncovered and neglected, if in great condition and trailer isn't rusty or something, tires might be rotten by now.
I paid $4,300 for mine 3 years ago, was in quite good cosmetic condition with the original cover and galvanized trailer and had not been serviced except for the jet pump, it looked like they had a habit of running in shallow water.