water in the oil

[garagenc]

I have a 91 V-20 with a Volvo Penta Engine (501L chevy) and 290 DP outdrive.
I started getting water in the last 2 cyl on each side. I replaced both heads, both risers which helped but I had water in the oil, oil was extreme white on heads (rocker arm area) inside of both vlv covers was white. I found that my stbd side riser was "cannot touch" hot but port side cool. I replaced stbd exh manifold. I cleaned/wiped the white foam from the heads and vlv covers and replaced oil and filter. Took it back out and stbd side riser cool as one on port. I came in and pulled dipstick and had water in oil again.

I'm replacing port side exh manifold this week, but my question is do you guys think the port side exh manifold leaking back into the eng (the eng runs fine,) no plugs miss firing.

Could this last oil change with water in it be left over from oil/foam residue from last time? I also get white smoke out of my rubber hoses on vlv covers, is this the burn-off of condensation from the water in the oil? I drained the oil with a pump, can't get to the oil pan plug. If so how many oil changes will it take to get the oil back to normal color. Is there any way to check for a internal crack in the water passages that could be dumping water into the oil pan. I bought the boat from original owner and he took very good care of it with the dealer. I use it in brackish water and when I go to the ocean I bring it back home and flush.

Does anyone have any suggestions or reccomendations??