Grace.
'b' is the proper spelling, not 'bo'. '(at) þeim
b' is simply dative singular for 'at that farmstead'.
'Bjo' - 3rd person sing. past tense of 'bua' - also
has the meaning 'dwelt' or 'lived at'.
So the whole sentence could be translated as 'Bjarni was
the name of a man who lived at that farm which is called
Laugarhouses.'
'Fekk is the past tense of 'fá' - 'to get', so 'ok fekk þar
góðar virðingar af Grikkjakonungi' can be translated as 'and got there
good (great/much) honour from the Greek king (Byzantine emperor)'
'þarf' means 'need' and 'orkar' here does not come from
the noun 'orka', which means 'strength', but from the verb 'orka', which means
'to work'
So, 'því at ek þarf eigi meira forvirki en þetta lið orkar'
means ' because I need not more labour than this people works' In other words '
I need no more labour than this household provides'
'veldr', from 'valda', means 'to wield' or 'be the cause
of'. So this sentence would translate something like 'lack of means and poverty
are more the cause of (my sending you away)'.
Time presses on. I'll miss my film on television if I don't
stop now. If you want more help, let me know
Cheers
Jed