1988 Bayliner Capri 1950 OMC 5.0L 305 I/O stern drive. I just got it running (hooked water hose and muffs to it) let it run. Smelled burnt oil after a min so I **** off. Then noticed fluid draining from the side of my motor into bilge. I felt it and it was pretty warm and couldn't really smell anything (I have terrible noise anyways). I am stumped. I cannot find anything online. I've thought that maybe there's supposed to be a plug there? My friend thought there's supposed to be a metal line there to take the fluid somewhere else. Idk. Best I can remember it was threaded. I do have pics. Please help!! If you are in the boat, facing the motor, it is on the left side of the motor. Beside the starter. Thanks