Cold starting issues are generally related to not enough fuel or too much fuel.
I would hold off on adding a bunch of goop/snakeoil to your fuel as that could make the issue more difficult to diagnose and at the very least it’s unlikely to help this issue. Detergents like Seafoam will only help for a narrow range of problems with varnish in the fuel system, they are not a cure-all.
Verify if Merc still had the electric choke on the 2004 models where you push in the key while cranking to set the choke? I didn’t look it up, but this would be my leading suspect.
1. I didn’t look it up, but if it has an electric choke, check that the choke is setting while cranking. You have to verify that this is the case with a cold engine as something may be binding just when the engine is stone cold.
I would use carb/choke cleaner to make sure nothing on the carb is binding.
2. Check the fuel hose for air leaks. The best way to verify if the hose is the problem is to swap it out for a different hose. You can’t just casually look at the hose becaue an air leak can be very small and hard to see other than a slight stain on the hose from fuel leaking.
Also check to make sure your ball on the fule hose is working properly and is holding pressure. I’ve seen these go bad where you feel them come up to pressure, but then they quickly leakdown. Make sure the ball stays firm when pumped up.
3. Are your spark plugs good? Have you checked the gap? Yes! You must, must, must use the proper gap and NO, .030 is NOT the universal gap setting. There is no such animal as a “universal gap setting”. Look it up and set it accordingly.
4. Use a spark tester to check each plug and make sure it’s firing. If you don’t have a plug tester, spend the $10 and buy one. Do each plug, one or two is not good enough. Make sure you have spark on all jugs.
Grouse