Re: water in the oil
Same boat different motor, When I bought mine I had a head rusted threw and was getting water on the #1 cylinder
Had to replace head, and flush the motor much like skools said!
But I could get to the drain plug on the oil pan, I hate them pumps, they can never get everything!
Good Luck!! as this was the beginning of the end for my motor! Replaced Head, manifold, risers, belows, ect ect ect..
This is why I am now converted to a bracket and outboard!
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1986 V20 
Old Fishermen never die, we just SMELL that way!!
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