I have received a lot of suggestions that it's something external like a pulley or a U-joint so I will be looking into these this weekend. I also had a recommendation to check the engine mounts. I want to thank you all for your suggestions and time. I will let everyone know what I find
The oil pressure seems ok but does fluctuate. At low idle the pressure will drop, higher idle it will increase. I've thought that was odd but it's been that way for some time now. I've been told it could be a main bearing..
I had all the bellows, shift cable and outdrive water pump replaced 2 years ago. He said everything looked good there. The noise is not as loud in the back of the boat as near the motor.
I have a knocking noise and can't determine where it's coming from. Little history - I had the lower unit impeller go bad and it over heated the engine. I pulled the head and had it checked because water was getting in the oil. Head checked out good and I replaced the head gasket of course...