Re: 40HP Force Overheats
NO! Exhaust coming out the thermostat housing hole means that exhaust is getting into the water jacket. This means that either a head gasket is broken (most likely) or a cylinder is cracked. First check compression to see if one cylinder is low. Then pull the head and eyeball the head gasket. If it appears OK, then slowly turn the engine and check the cylinder walls. Aslo check the head and cylinder gasket seating surfaces.
Sometimes corrosion will damage the seating area on the head ot tops of the cylinders. If this is the case and it is not too bad, it is possible to machin the surfaces again.