@BeamReach thank you.
The engine actually does not have an oil filter so I need to pump the oil / drain it. I have yet to actually do this.
I tried the throttle in different positions, and as soon as I put the gear in the oil comes out. Even low throttle.
The exhaust as well as airflow intake all seems ok.
Thank you for the contact info for the Yanmar parts.
The previous owner had the boat for 1 year and he only used it once. He did give me a rundown and answered my text inquires but also can't really assist me further. He has been very nice and supportive though.
I do have another questions however, and this might be a very silly question. Can anyone tell me what this lever here is for? I can not find it in the manual or any of the documentation. There is an arrow drawn on it lightly that points up ?? and I have left it in the up position until I bled the engine, when I briefly moved it sideways (see image) and then back again pointing up. Could that have to do with it?
Thanks for any feedback :)