Ok update, I drained the oil and refilled, I ran the motor and the dipstick is coming out clean no water.. Here is a possibility we were hit by a sever storm 4 weeks ago off the coast of Xcalat, we had waves over the stern and bow, several times the motor was under water during this time. Is there any way the motor could have pulled water in during this storm?
I am going to change the oil again and let idle in gear
for an hour or so to see if it turns to " Starbucks Lattee" after a few hours of running.
Just for people who are not cruisers in foreign places, something like this is very serious as it only took a month to get new plugs and two oil filters to Belize
I could not imagine a motor rebuild