The time on rebuilds and or inspections of the valve train depends on type usage of boat, engine type and parts used in original build.
Do you run in fresh water.
How often do you change your oil.
Have you had any mechanical problems.
How hard do run the boat.
What parts are in the current build.
Are you wanting to up-grade with more power.
If you are running 500 HP, I would say, if you have 500 hrs things are getting to there limit. I would start with a compression test first, then narrow it down to a leak-down test. If your leakdown is good, lifters& valve springs would be the next concern. Don't overlook the exhaust system, if you are able, you need to pressure-test them.