I have a 1979 Mckee Craft. I think it's a 18' Offshoreman. Center console. I went to drill holes in the floor, to mount a new t-top, and water started coming up through the holes. Is this of any concern? How would I drain it if I had to?
Is she new to you? I don't think it's good. For starters get the bow up as high as you can, even put something under the jack. Try for about a 2 foot elevation. Also make sure the plug is out of the transom. Let it drain and drain and drain some more.
I have a feeling the foam is water logged and you might have hidden stringer damage/rot. I'll let the other guys fill you in on checking that out. Good luck.