The last time we took the boat out it started smoking severely. Loaded up and took it home. Put the muffs on to flush the motor and the same thing happened. Started researching, and asked a few folks what were the possible problems. Watched some videos on the fuel/oil delivery system, and purchased and read the SELOC manual fir my motor. Took the cover off of the motor and took a look around. Noticed some oil pooling at the bottom of the engine. Took the vro off for inspection and noticed oil in the carbs. Cleaned up the oil at the bottom of the engine, and cleaned the vro, put it back on. It was dry and clean when I put it on. Capped off the oil line, unplugged the harnesses, and ran 50:1 mix from a portable tank. The smoke subsided quite a bit. I noticed there was oil on the front of the vro again. I've checked the fuel line for leaks, didn't see any.
Now there's no water coming from the tell tale. I ran it for a few minutes, and still no water. I've checked the tell tale, and it's clear of obstructions. Unscrewed the tell tale and hooked up my water hose to it to flush the motor. Barely cracked the valve and gently ran some water through it. Water comes out of the foot with ease. I'm thinking this issue is going to be the impeller.
This is a great motor, been garage kept its whole life, and used moderately (no hot dogging). I just want it back to the working condition it was in when I bought it a few months ago.
**edit**
I forgot to mention when I got it home that day when it started smoking heavily, it took an act of congress to start it to flush the motor. That never happens. It always starts on the first shot. The plugs were fouled. Changed them all when I did the premix test and fired it right up.