Ignition problem

Hey all new to the EB world but not new to old Fords own a couple 64's. Finally got one of my dream cars just picked up a 74 Bronco Sport has a 351w,3spd manual, HEI ignition but have been battling starting issue. Cannot figure out for the life of me what is going on. When i went to look at the bronco the previous owner had been messing with it trying to get it started. When i arrived he was installing a new Starter selonoid but the problem was it would try and start with no key in the ignition and the starter would not disengage. Did a few tests and found the selonoid showed continuity through the 2 large lugs telling me the selonoid was bad. Installed a second one and that seemed to work momentarily till that one as well started doing the same. Changed to another known good one and that got me home. Well it reared its ugly head again this time while diving must not of heard the starter engaged as i was on the road but the smoke from the starter frying up let me know pretty quick i had a big time electrical issue. Thinking maybe it was a bad starter all along i swapped in a new one and another new starter selonoid and seemed good . Nope now when you turn the key to on (not full start ) it fires up and starter stays engaged ? Turning it to off kills it. Now thinking ignition switch. Put a new switch in and same scenerio turn key to on not full start and it tries to start. What am i missing here i am not very good with electrical but seems I've covered most of the bases.One thing i noticed a Red wire with white stripe under the dash in the loom had smoked and been cut. Cant tell what this is looks like a loop i know Ford used resistor wires but man the wind has been knocked out of me big time . All info very welcome. Thanks Tony.

WELCOME '74..!

FOR A '67 but maybe use for reference.   Seems you have a crossed wire(s) or a short.

(THE MIDDLE ONE IS UPSIDEDOWN --- duplicate.  Don't need it)

Thank you. Your right I found shorted wires under the dash seems that red wire w/white stripe is a resistor and when it cooked it arced the starter wire red w/blue stripe to a green w/yellow stripe and was giving me constant 12v to the coil. Getting it all straighten out now. Whooo glad it didn't destroy anything else. Feeling lucky right now.

Good job.., keep us posted as to the complete solution..!

Also.., STAY WITH US..!!  We can use you with your experience to help all of us on this board..!!..  >< <'>   :-B

Thanks for the support! Gonna clean up all the electrical the alternator is putting out high voltage 16 to 17 volts so gonna replace it and the VR hopefully this will do it.

WOW.!

Ya.., that's not good.  Check the batt. water level as well if you didn't already.

All seems to be good new alternator is working great no more ignition problems purring like a Alley Cat ! Super stoked.