Yeah I love these motors! They're easy to repair. Sounds like you're losing the coolant somewhere. Check your waterpump seals on the front of the engine. Left side facing it look for weep hole under the internal waterpump. Could be leaking inside the heat exchanger or riser. If the oil looks clean shouldn't be a head gasket. Look around the motor and see if you can see any coolant. Theres a few guys that have them, mine is a 170. Some are 470, 170,165 ect. They all have the same block and head. We'll try to help you figure out where its going. Check the dip stick first.
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77 V20 cuddy with 170 I/O Mercruiser
72 16ft. Carolina w/a 25hp Evinrude
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