About 5 months ago I was gifted a 1994 Ranger splash with about 270,000 miles on it, and have had no problems with it until recently. The engine takes forever to start, but once I finally get it started I can turn it off then start it again no problem. After turning the car off and letting it sit for a couple hours though, the starting problem comes back. On top of this, the CEL is on and I've tried every method to pull codes from it but nothing works. I've tried a code scanner, the jumper method, and the voltmeter method. The truck is also getting very bad fuel economy, and is stalling and backfiring when the accelerator is pushed half way down. I've replaced the spark plugs, coil pack and wires and have also checked fuel pressure and everything seems to be within the normal limits. I've checked everywhere online to see if anyone has had the same starting problem but I couldn't find anything so I'm hoping someone here could point me in the right direction.

 

Just wondering, are you checking the fuel pressure before you attempt to start it? When you initally turn the key to RUN and the fuel pump starts up cold, what does it read? Should be 35-45 PSI with key on and engine off. Engine running it can be slightly less.
How does vaccum line look going to fuel pressure regulator? Is it on there good?
With the engine idling, remove the vacuum hose from the fuel pressure regulator. The fuel pressure must go over 40 PSI. If not, pinch off the return line to deadhead the fuel pump. The pressure must go over 75 PSI in 1-2 seconds or less. If not, go back to the fuel pump and check power and ground volt drop at the pump. If OK, replace the fuel pressure regulator.

Measure voltage on the Light Blue/Red (LB/R) wire of the Mass Air Flow (MAF) sensor. A typical idle reading will indicate 0.7-1.1 volts. When the throttle is snap-accelerated, the output voltage of the MAF sensor should exceed 3.0 volts.

Check your Inlet Air Temp sensor IAT



Check your Engine Coolant Temp sensor ECT



Other things that come to mind to check might be camshaft position sensor. Make sure its got power on red wire and black and white is ground and the other wire is the signal wire that will have varying voltage depending on RPM level
Check connections to PCM which is under the hood on backside of firewall. Bad place for Ford to put a computer. Carefully unscrew bolt for connecter and inspect pins. Also could pull PCM out and open it up carefully and inspect inside for corrasian or popped capicators.
Check and clean those grounds in the engine compartment. One is by PCM, one or two others around engine compartment.
Your battery good and providing good voltage under load like starting?