I know where Pawleys Island is—-right slap on the Atlantic Ocean. And I’ve got a pretty good idea what’s wrong with your motor. Salt water is getting into the powerhead. Not wanting to be a pessimist, but your motor probably is terminal. billw probably aced it. The three most likely water intrusion routes are the lower crankshaft carbon seal, and the head gasket and exhaust cover gaskets. And yes, the inner exhaust cover may have a pin hole corroded through it, which will squirt water right into the exhaust ports.
No matter what the leak is from, the water getting into the crankcase will rust the roller bearings over nite, and the motor is junk. You might get it freed up, and even run it, but if those bearings are damaged it WILL fail.
Sorry ’bout that.
