Can you take a good video of it with sound and try to get right where the noise is coming from. Then post it on youtube and post the link to youtube here?

yep, will try to get it uploaded tomm....thanks for all the help btw...

went out there today but my camera had a dead battery...ugh...going to try to do it tomm....of course, when i was putting it back into the slip, I must have put the drives up to high because one of them wont go back down now...the motor is spinning but its not moving like either a gear is broken or it somehow got un-attached...im guessing that there is no gear though since it is a hydraulic pump...i guess i will take it apart tomm and look at...has this happened before to anyone? Can you typically fix something like this or is going to require a new trim motor replacement...and is very difficult to do...again thanks...

No gears there, all hydraulic, drive won't go down probably due to no fluid pressure coming from low pressure side of pump (high pressure side extends the rams, low pressure side retracts the rams). Depending on the pump you have, if you have a large screw in the center of the pump below the motor turning it counterclockwise releases fluid pressure on both sides. If you don't have it, loosen the flare fittings slightly on the hoses that go into the rams, there are 4 of these, this is also how you bleed the trim system.

I noticed you said it was rebuilt with a new crankshaft. May I ask who did the engine rebuild? Was it a reputable engine machine shop, or a guy doing it in his garage? What happened to the engine that the crank shaft needed to be replaced? I would think u-joints, but this crankshaft replacement thing has me thinking someone botched up the job, and now the mains or rods are pounded out, crank is walking, or something bad going on in there.

Make sure you have fluid in the pump for the drive, if it still doesnt go down, have a friend stand and bounce on the drive while holding the button in the down position.

You engines are standard rotation. Not sure where you are located, but I would try to find a good offshore boat mechanic in your area. Not a guy who is mechanically inclined, or works on runabouts and bass boats, but a guy who is familiar with offshore boats and has experiance with them. A 30 year old staggard 38 Scarab is gonna require lots of attention, and if someone isn't steering you in the right direction, you won't get much boating done, and definitly a lot lighter in the wallet.

Those old Scarab 377's are sweet.

I bought the boat with the motor in the current shape...It was doing it during the seatrial so I went worse case scenario which was a new motor replacement and adjusted the price accordingly...purchased the boat for 13k....I believe he had a friend of his do the rebuilt I tend to think that it wasnt done properly either...

I was told to spin the props by hand to see if there was anything fishy as far as the U-joints were concerned and both props seemed fine and spun correctly....

Was going to try to bounce on the drive today and see if that worked, that was suggested by someone else as well..

today and tried everything that was suggested as far as cracking open the hydraulic lines, jumping up and down on the drives while operating the switch and somehow when i tapped the drive up and then started lowering it while jumping on it I got it to loosen up and go down....the drive is going up and down now although I saw a little air bubble in the line...will that effect anything? Now to sea trial it with a video cam so I can record the motor noise...

It will bleed any air out of the line by just operating it up and down a few times.

what oil pressure are you getting with that motor (as in what is it at cold idle, what is it warmed up at 3k or 4k rpms, what is it at warm idle)? Should be 40 or so at cold idle, at least 10 psi for each 1K rpms when running, and 20 psi warm idle. Lots of times a problems with main or rod bearings will be accompanied by a noticeable reduction in one or more of the above areas.

the gauge is so old (another thing that i am replacing is all the gauges) so im not sure how accurate either of them are...i believe that gauge reads around 40psi when warm idle and goes up to about 80psi when running so I dont think it is correct...