'81 50hp Merc tilt/trim woes

[Gus]

I have a 81 merc 50hp that runs absolutely beautiful. However upon trying to use the tilt/trim for the first time this year I had a lot of groaning, not a lot of moving but some, and a nice puff of smoke come out of the pump motor. I opened up the fluid resivour and much to my surprise I found it full of milky fluid. Upon letting it settle back out I found it to be at least half full of water. I have since sucked out most of the water and done multiple flushings with fresh oil. The tilt trim is going up and down although not like it used to. If I try to tilt all the way up or down without stopping I get smoke starting to come from the motor again. I can get it up by doing shorter bursts. Good thing is I think this can get me by for the opener. My question is for after the opener. I am thinking an overhaul is probably in need. Are there still parts available for these units? Can they be rebuilt? Replaced whole? Any idea on ballpark cost? Anybody have any recommendations for boat mechanics that could do this? I'm not opposed to driving if I know the person will do a good job and do it right.

Thanks for any help. I'm just bummed about this. A new boat or motor is out of the question at this point so I'm hoping I can get this fixed.

[Valv]

To fix the motor you can try any shop that rebuilds electric motors, the hydraulic part will be another issue, it is expensive, and since they don't make that style T&T anymore you will have hard time finding economical parts.

[croixflats]

your tilt is salvage able I had one like that rebuilt a while back. It sounds Like Its the moter. Valv Is right any place that rebuilds electric moters can fix it. If there is something wrong with hydrolics could be an easy fix to .Hydralics is a prety simple concept. There is a shop off of Little Cannada Rd and 35E

that repairs Hydrolics called A-1 Hydralics its on the west side of 35E north of Little Cannada rd.