Glad to hear you've solved the issue.
But just as an aside, suspecting something (in this case, waterlogged buoyancy foam) is always something that plays constantly in the back of one's mind. I've been busy with a project boat, that didn't start out as a project boat, but because of a number of things that showed up as suspect as I got to know the boat better... It was classic domino theory. Knocked the first one down and the rest just followed. I'm at that stage of a 100% strip of everything mechanical, electrical and the finishes. I've removed the deck, stripped out all the bottles because they were badly installed, removed the bilge pump because it was a disaster waiting to happen... It's basically a great big tear down and rebuild. Oh, yeah... Boat came with a buoyancy certificate... Freshly minted.
And although (as mentioned previously in this thread) I should have been in touch with the original builder for info... Well, the boat building culture in this country is sketchy at best (barring a few outstanding ones). The builder of my little boat went out of business in the 80s. And even the "respected" builders have been found wanting on so many occasions.
I've had no problem drilling, cutting and exposing in order to satisfy my peace of mind. I know that in the bulk of situations, I'll be doing stuff a thousand times better than the "pros"... I'm doing it for myself, not for a buck.
As for the Tohatsu, great motors. I'd buy one any day.