Re: Mercury 50 hp thunderbolt
here is what you will be getting into, this is an 77' 85 hp but probably similar:
1) the first pic shows the powerhead off and laying on the bench, the lower end cap ( round part) was a chore to remove, had to pry it out with putty knives then use a puller.
2) discovered rust and lot of it on the lower crankshaft this was a salt water engine, then discovered a repair kit for this very issue a speedy sleeve made for/by merc with instructions for $22.00. The marina didnt even know this repair kit existed.
3)here is the p/n for sleeve if needed, there are some special instructions for the 50 hp about driving the end cap on then torquing bolts apparently its a press fit on the bearing.
4) installed sleeve per instructions and replaced shaft seal retainer with new ($11.00)
now both crankshaft seals have a smooth surface to ride on. They install in the end cap with the lips facing down towards water pump.
hope this gives you some insight as to what to expect, not exactly an easy procedure to do.