2003 5.7 Volvo Penta water in oil

[Jamz33]

Boat started getting hot. Thought it was maybe something minor (thermostat, impeller, water pump) all checked out good. Then I noticed water in the oil. Pulled the plugs. Blowing water out of #4 and #6. I know it could be a plethora of things, but where do I start?

 

[Bt Doctur]

the most likely cause is
a leaking riser
a leaning manifold
blown head gasket
cracked block from improper winterizatin

 

[Jamz33]

I took the exhaust manifold off and I noticed as I took the bolts out that the 2 bolts closest to 4 & 6 were discolored and rusty. I assume that may say something?

 

[Jamz33]

I think the gasket ripped as I was removing it.

 

[Scott Danforth]

I think you have a manifold to riser leak on this side. there should be NO rust in the port.