Re: cavitation
Stand at the front (bow) of the boat and look under the hull at the skeg/antivent plate/propeller. You should be able to see the skeg and most if not all of the propeller. Depending on the year of the 35 hp Johnson, you may also need to see the antivent plate and about a half inch above it....if it is of the old '50's style where the water pickup was in front of the exhaust snauze. You will need to have the engine lower in the water for the water pump to work properly.
The propeller has to have a clear stream of water into it at WOT. If not you will have a problem.
Other thing is you may have a slipping prop, like a sheared pin holding the prop to the propshaft, or a slipping rubber hub imbedded in the inside of the prop.
Easy to check. Get on the road side (port) of the engine with the shifter in Forward gear and stand on the propeller (engine ignition off). You should get significant resistance to your weight and hear the engine turn over as the blade of the prop heads for the ground. If not, disassemble the prop and look at what I said.
Mark