8hp 4 stroke issues with red oil light

[teuvotaneli]

G' day
I just bought a used Yamaha 8hp 2011 4 stroke engine that has been sitting unused for at least a year. Condition of the engine looks brand new but it has issues starting.
All the basics are checked:
-Gets fuel
-Got spark
-Fresh fuel
-Carburetor checked and cleaned
-Fresh oil

It has a red light with a oil symbol next to it, that blinks once when you try to start it.
I read that it might have something to do with oil pressure, but could someone with more knowledge on these confirm if that is the case.

[panasonic]

Need more information. Model # on the data tag which is on transom bracket please.

[teuvotaneli]

I found this number on top of the engine
M140429910

[dadamiya12]

The appearance of a red oil light on a 4-stroke engine, such as an 8hp outboard motor, typically indicates a problem with oil pressure. Here are some steps you can take to address this issue: Check Oil Level: Ensure that the engine has enough oil. If the oil level is low, top
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[panasonic]

I found this number on top of the engine
M140429910

Hello. Did you look on the transom bracket for the model and serial number tag? Need to know this to determine exactly what you have there. Electric or manual start, short or long shaft, ect..

[boscoe99]

Need the complete model identity. Better still the engine ID. That begins with the number 6. As panasonic notes, it should be on a placard on the side of the motor. On the clamp bracket.

[teuvotaneli]

I have checked the oil level and it's all good. Transom bracket has no labels and I didn't find any other numbers.
It has both electric and manual start. Neither of those won't even promise starting.

Could it be that the oil pressure sensor is out of order and that's why it won't let it start?
The thing that confuses me is that it gets fuel on top of the piston because spark plugs get wet after a while when trying to start. When you dry them and try starting without putting them in, they clearly give spark. Fuel + spark should give boom but no

[teuvotaneli]

I have checked the oil level and it's all good. Transom bracket has no labels and I didn't find any other numbers.
It has both electric and manual start. Neither of those won't even promise starting.
Could it be that the oil pressure sensor is out of order and that's why it won't let it start?
The thing that confuses me is that it gets fuel on top of the piston because spark plugs get wet after a while when trying to start. When you dry them and try starting without putting them in, they clearly give spark. Fuel + spark should give boom but no

[teuvotaneli]

Does the red light mean different things on different models?

[99yam40]

a motor
needs good compression ,( you did not mention checking that)
good spark at the correct time,
and the proper amount of fuel to air for the fuel to burn.( too much or too little is not good)

being a 4 stroke, timing of the valves to the crankshaft (piston movement) is also important