I have a 1987 OMC Cobra 4.3 liter engine in my boat. This engine runs great, well at least it did. It starts everytime with just a bump of the key so starting is not normally a issue. It was running fine 15 minutes prior to the problem which I will describe. I was pulling my son on the tube for about 300 yrds slowed down and turned off the engine to switch tubers. When I went to restart the engine it made the most god awful metal on metal grinding noise. I thought it was the starter so I pulled it off to test it and noticed about 2 inches of teeth missing from the flywheel. I talked to the marina and they said it was hydrolocked probablly due to water rushing in through the exhaust manifolds. I guess they seem to think the flappers in the Y pipe are missing. They said they would have to pull the engine to change the flywheel, install new flappers, pull the plugs to crank out the water and change the oil and filter all for the low low price of $1200.00. I checked on parts and I can get them for around $300.00. I have the means and mechanical skills to pull the engine and change the flywheel and flappers and all the other stuff. I just don't have the marine knowledge to diagnose if there is some thing else wrong as to why it got water in the cylinders. Do you think it was related to the water rushing into the exhaust and just fix it myself or should I talke it to the marina? It just seems like alot of money and mostly labor.