A couple things.... the tach is either off a magnetic sensor or off the flywheel (most likely) or off the alternator.
The magnetic flywheel sensors need periodic cleaning (I do mine every 2 years) and require very accurate adjustment.
The wiring behind the tach can be prone to corrosion, make sure all the pins are clean and test that you have a good ground (0 Ohm).
The tach needs 12v, do you have 12v at the tach?
Do you have a fuse at the panel? some do, some don't.
The engine wiring harness is copper strands. After about 30 years, it gets stiff and brittle from the heat and the vibrations, and you get micro breaks all along the wiring. When it gets to 30, it's time to replace. Marine tinned wire is more flexible and will last longer. Buy from Yanmar for about $500, or make your own for about $350 in wiring and connectors.
Start at the engine, then test the panel (grounds, 12V), then the wiring harness. You'll need one of these (20 ft) to test the grounds (and a good quality multimeter):
The service manual for the GM series is available online. It has an excellent wiring diagram, easy to follow. Everything is color coded. Try the tach on a buddy's boat with the same engine. This could be a 20 minute job or a 3 day job....
You don't buy the boat, you buy the previous owner's mistakes
