So i am new to the boat world, but no stranger to small block Chevy's. Here's the story. I bought a 19 food trailer and it came with a free Batliner Capri with a 305 chevy. supposedly the motor is bad. i got it running and it runs pretty decent, the problem is the motor was full of water ( like 2 gallons after i pumped it out). changed the filter and added new oil, ran it for about 5 - 10 minutes and it filled the oil pan again with water ( maybe a gallon this time) , being new to boat issue's i was told something about a water valve stuck? or my first thought is Head gaskets. I think the motor may have gotten hot at one point because the hose that supplies water to the engine from the outdrive water pump was not connected.
