Re: 1/8" Hole above gearcase bullet
Helps if you specify what motor year etc.
If you are referring to a 4 cylinder Force, it's probably the hole that has the shift pivot pin screw. This is the pivot point for your linkage to put the gear case into reverse, forward and neutral.
What ever you do, do not remove this pin. Many folks mistakenly remove this screw thinking it the gear case drain plug. The drain plug is located on the bottom of the leading edge of the gear case bullet. Most of the time it requires dis-assembly of the gear case to get the pin back in. A real pain in the you know what.