Quick Update. Ran the boat this weekend. Checked the fluid before it went in the water Saturday, it was down slightly. Topped it off and ran it most of the day Saturday and Sunday fishing, swimming and even pulled a tube for a bit. Reservoir level dropped only slightly below the full line. Took it out fishing Monday morning, and I had an oil sheen on the water. Moving the boat from fishing spots I could smell gear oil. My mother-in-lay was sitting on the back and happened to notice there was a bubble of white oil (likely milky gear oil) that would slowly ooze up on occasion. It appeared to be coming from near one of the top 2 outdrive mounting bolts. I checked the reservoir, and it was nearly dry again. I topped it off again so I could move the boat over to the launch to pull it out, and when it was on the trailer I checked the reservoir and it was wet with oil all over the top and sides. It almost appears the reservoir was pressurized from the gear case, and blew the oil out the top?
Is there an easy procedure for pressure testing the outdrive somewhere so I can try and narrow down what's going on before I just start blindly throwing parts at it? I'm also getting water leaking into the bilge and filling up to around the level of the exhaust, so there is obviously a leak somewhere that needs to be fixed.