330 pcm replacement or rebuild?

Ok, first off I'm going to start this saying I'm an idiot. This is my first post and I'm a little embarrassed. The only boat I've owned was a 1994 genesis i/0 I bought for a few grand. I've been saving up for years for a nautique and found a great one. A 2004 sv211. The guy said he was getting married and needed to sell it. It was hours away and I was too stupid to find someone to inspect it. I bought it, not knowing too much. Anyways fast forward to this past weekend I put it out on the water and the engine bay starts filling. I pull it off the lake and go home and find 2 freeze plugs (or casting holes) popped out. I put them back in the best I could. I know I need to check my oil and see but I havmt had time yet. Any ways let's just say the block got cracked. What's the cheapest option?

This may sound stupid but my last boat, I took it in to the mechanic when I first bought it and he said there was tons of oil in the pan. He then did an oil change, ran it for awhile and never had anymore water in the oil. With my new boat, even if i find water, should i do an oil change and check again? Before spending 8-9k

First, I'd check the plugs to see if there was intrusion into the cylinders. Then change the oil & filter and do a fake-a-lake test to see fi there's any obvious leaks. Watch the temp carefully and listed for odd noises, shutting it down immediately if any develop. If not, let it come up to temp and shut it down, then check the oil for signs of water. If unclear, you may need to drain the pan again to confirm. Others may have different advise or additional thoughts.

And BTW - Welcome to the site!   Sorry it took something like this to get you here

Thanks everyone, I'm going to dig into it today and let you all know the results. Pretty nervous but it is what it is