Got the boat home today 1991 Caravelle, 4.3L OMC Cobra Outdrive. She started right up on the muffs with no problem. Didn't engage the propeller, just ran it for a minute in neutral. Then checked the outdrive fluid and I'd describe it as green and frothy. Many air bubbles. Is that what you folks mean by milky? If it is, I know that means water in the drive but how do you determine which seal to replace. Aren't there many? How much cash am I looking at to fix this? Any thoughts would be greatly appreciated.
