Try the 4-blade and get back with us...........
That's way too much water in the bilge. Take it out in calm water and make sure no water comes over the transom, etc. If you still get water you need to find the source. Could just be a loose clamp on the engine. Or not.

The boat ran fine for me when I drove it the weekend before you bought it.... make sure you have the drive all the way down. I had it over 50 by myself. I didn't even play with the tabs and it did fine. Really sounds like you don't have the drive down all the way.

Are you the guy i bought it from ? Why is there so much water coming in the boat ?

You should be able to drive the boat with at least neutral trim without porpoising. Make sure you don't have unnecessary weight in the engine compartment such as tools, anchor, spare prop, etc. You may want to add some ballast to the cabin and see how it reacts. The 4 blade prop for more stern lift is a good idea as well.

No ...it was my friends boat...you came to my house to look at it. As far as the water goes I don't know....had the plug been in it since you picked it up? May have been rainwater if so. The boat always felt light in the nose to me but never hopped so bad that couldn't be run wide open. Like I said I had it running over 50 and even was able to trim up a little. Make sure the drive is going all the way down on the trailer....just make sure the front of the trailer is low enough so you don't put the skeg on the ground.

None !

Check the bellow, had a searay that looked fine until you backed it down the ramp and it was like a waterfall. Could only tell if someone was in the bilge while backing down. They can be cracked and you can't tell.

Gray or Grey was the guys name just outside winston salem n.c. nice guy seemed honest 240 sport with factory red and black stripe and matching red white black interior

Wow....I apoligize...my friend sold a 97 240 sport last weekend and I thought it was you. The guy that bought this one was in virginia.

240sport, did you water test the boat at all before you bought it? You mentioned that the transom exhaust ports are below the water line. All of the Baja's that I have seen have the exhaust ports several inches above the water line when the boat is sitting normally in calm water. If it is sitting so low in the back end that the exhaust ports are under water, then you have a lot of weight in the rear of the boat - either from water in the bilge or something else. If you had the boat sitting outside with the plug installed and it rained, it is possible for a LOT of water to find its way into the bilge. That could definitely affect how it handles on the water. If you do have a leak, many times you can spot it with the boat backed in on the trailer.