Richard Dreyfuss and Emilio Estevez were having a movie trivia contest on the set one day. Estevez asked Dreyfuss to identify the movie that the line "This is no boating accident" was from. Dreyfuss didn't recognize the quote, despite the fact that he was the actor who said it in Jaws (1975). Deciding that this was too good to pass up, this incident was re-enacted for the film.
The trivia item below may give away important plot points.
Dan Lauria reprised his role of phil coldshank in the sequel another stakeout along with his character's dog Winston. In the sequel, he's now captain to Chris and Bill. And there is no mention of the captain from the first one and Forest Whitaker's character who's partners with Coldshank.