After doing the heads I only took it out on the water for ashore period of time you think it could of damaged the valves and guides?

Fresh oil and a compression test will tell you about the valves . Who knows , you may be lucky . Water on hot exhaust valves turns to steam , up the valve guides it goes and condensates under the valve covers , water droplets then drip into the oil turning it to milk .

So I guess it's the manifolds leaking then..

Boy! those are old Stainless Marine I think. I have a sm block set on my wall from 74 when SM was in a garage. Junk em.

I just took one of them off and there was some water in the exhaust part, and 3
Out of the 4 exhaust ports on the head were Wet..

Before you turn that engine over remove the spark plugs . You don't want it to hydrolock and bend or break parts or flatten bearings . Turn it over with plugs removed to exspell any water that may be laying on top of pistons . Spray WD or Marvel mystery oil into plug holes and crank over to stop rust on cylinder walls . Get the milky oil out of her . Spray WD on exhaust valves also . Good luck . I hope you can save her .

I will do that tomorrow and ill remove the other manifold as well ill keep you guys posted thanks a lot