Mercury 50hp 2 stroke oil injection 2002 - Idle/RPM problems

Greetings, this is my first post. Went out with the boat we just got about 2-3 weeks ago, this morning and encountered some problems. First theres the rough idle (Probably caused by the cold temperature, 3 degrees Celsius), then when we got out, and the motor wouldn't reach max RPM. It cruised at about 3-3.5k RPM at 10MPH (According to the dials). Then the engine stalled, and wouldn't start for a great deal of time, caused by a flooded engine. After it started, we let it idle for about 15 minutes and shut off and started no problem, only if we did not use the choke to start the engine. During idle, I noticed that a lot of fuel was being extruded from the engine, seemed like petrol (pretty rainbows) and motor oil (little black bubbles).

So in short, the symptoms:

- Rough idle
- Cannot reach max RPM or speed
- Extruding fuel and motor oil
- Cannot start with choke after cold start

Engine information:

- 2002 50hp Mercury 2 stroke oil injection
- Just went through service not too long ago
- Precious owners have serviced it twice a season
- All service records are available

We never previously had a 2 stroke oil injection motor, therefore we know 0 zero about this motor. Our 2 stroke Johnson 20 hp work every time we started it and had zero issues. If it helps in some way to know the boat that this motor is paired with, the boat is a Key Largo 160.

Thanks in advance!

Re: Mercury 50hp 2 stroke oil injection 2002 - Idle/RPM problems

Any help is appreciated, if any more information is needed, I will do my best to provide!