I apologize for being away so long. Im a military guy and had to attend some training for a few months.
Heres the update and Ill answer as many questions as I can.
Replaced the spark plugs.
I drained the oil 3 times. At Number 4 the oil stopped looking like chocolate milk.
Started it and it actually sounded ok. Got it up to temperature. Checked oil, looks good.
Trim pump died, as predicted. I have one ordered.
That's all Ive been able to do to it. I just got home and Ill get on it again this week. I wasn't able to get in the water. Life and the military happened simultaneously, and the boat was way down on the list, unfortunately.
I have plans to pull the outdrive, check (and probably change) the gimble bearing, flush the trim pump lines, change outdrive oil. Just for starters.
I moved to Fredericksburg Texas, so if anyone knows a good mechanic in this area, I would appreciate it.
In the meantime, I hope to be home for a few weeks working on it, and Ill try to keep everyone updated.
Here a some answers to the questions I saw.
Engine was half submerged when I discovered it. The carb didn't seem to be affected.
First time I drained the oil, there was a significant amount of water, didn't measure it, but it was mostly water for a minute or two until oil started coming out. Alternator is high on the motor and didn't get wet.
I turned it over with spark plugs out.
It was rainwater that filled the boat, but that was because the plug wasn't pulled after last use by a friend.
So the engine also had saltwater in it for two months. Double
Will let you know. Thanks again for the help.