Re: 1976 mercury thunderbolt lower unit removal
I just went out and looked at mine, it is disassembled in my driveway. There are 4 bolts, two side by side near the water pump and shifter (the part of the motor closest to the hull) and 2 more. Those two are centered, one is out by the end and one is 1/3 of the way in. The two by the water pump and shifter have nuts on the top, the other two have nuts on the bottom. Mine has been apart since last fall as I continue to restore the boat, but I seem to remember that I had to remove something underneath to be able to see the last bolt. Now that I think about it, did you remove the little fin that hangs down above the prop? I'm thinking that the last hidden bolt was un under that fin when you remove it.
Remember, mine is a '77 500 Thunderbolt, maybe it's slightly different. I do remember that once I had all of the bolts off, it dropped right down with no problem or hammering.