I and Reel had problems wit the vents being in the wrong place on them old V's, mine let some water in from time to time, we moved the vents higher up on the side to stop fuel from spilling out when tanks were full and to stop water from splashing in from the ocean waves.
How do you think you are getting water in?? Do you have a water seperator0?? If not you need one ASAP
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1986 V20 
Old Fishermen never die, we just SMELL that way!!
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