My 94 Ranger has developed a strange starting problem, When i go to start it is will start fine first time cranking, But if i do not get it started first time (ie i let of the starter to soon and it doesent catch) cranking it will not start, i will have to wait some period of time befor it will start again. if i try again to soon it will not start and then i will have to wait a longer period of time. it has taken from 30 sec to 15 min befor it would restart it isent a set amout of time, it seems random, what would possibly cause this.???? im about to do some long overdue work to it (plugs, wires Belts Ect.) so i hope that might help but its a problome ive net seen befor.
I'm thinking of a couple of things that could cause this...fisrst, we need to know if it's a spark or a fuel problem. The next time it happens, check for spark. If there is none, then it's prbably a bad ignition module, although this isnt the usual way they tend to fail. It could be as simple as a faulty connection. Wiggle your connectors and try to start it.
However, if there is spark, then it could be a bad fuel pump relay. The fuel pump is supposed to run for a second or so when you first turn the key on, and then run continuously when you crank and start the engine. Listen at the fuel filler with the cap off and have someone turn the key to the on (not start) position and listen for the whirring of the pump. Listen again while cranking, and when cranking when it does its little trick. If you don't hear it, then check the relay first and then other associated items like connectors and then the pump itself (which is in the tank and a pain to get to. Save it for last.)
I would usually suggest scanning for codes but this doesn't really sound like a problem that would generate a code...but it might.
Is the ignition switch 'touchy'? If it gets that way, it is possible to tighten it up by removing the plastic shroud around the steering column, and pressing the 'ears' down(actually up) to make the switch tighter. Two other things react the way you describe, the pickup in a distributor, or the ignition module, but I thought by 94 you would have EDIS... maybe the EDIS module is cooking out.
Check for spark as suggested...