if at the prop its like CB said! OMC needs to be cleaned up of carbon to fix, do a decarb and use carbon guard in the gas from time to time! It's a OMC issue. Also for giggles look at the lower unit oil, if its low its leaking out, if its milky your leaking in, if clean its the unburned oil from above.
Good Luck!
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1986 V20 
Old Fishermen never die, we just SMELL that way!!
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