Boracay had a similar engine when I brought her.
I put in a cable with a pull knob on the end which worked.
There should only be two positions. If you've tried both the problem could lie elsewhere.
I had three marine
mechanics advise me that the engine was sound so I put quite a bit of money
and effort into trying to get the engine to go, however it was old and in such bad shape that it was usless. I eventually gave the engine away in return for help in removing it. When taken apart it was discovered that the pushrods were bent.
For what it's worth I fitted a new battery
pump, then discovered that it would only start with a liberal spray of ether (which may have contributed to the bent pushrods).
Along with this I was advised to have the water
pump rebuilt for almost $1000 and then discovered that oil
was pouring out of the front engine. Another boat buck later with oil
still pouring out I pulled the plug
and sent it to the great junkyard in the sky.
I now have 200 hours on my John Deere 4045 DFM. It has run perfectly from the day it was installed.