If you're in fresh water and trailer the boat, leave it as an I/O. Outboards are great when new and are low maintenance and better performance in some ways but very high cost when they rust through/break.
If you're tired of sourcing Cobra parts you can convert what you have to either the SEI/aftermarket Alpha drive (or even use a genuine Merc drive with their conversion kit) or the Volvo SX conversion, which has been around many years, expensive though depending on if you can source used parts.
I see outboard conversions making sense if you slip/moor the boat in salt water like I have for 23 years. If trailering in salt or any use in freshwater, it just doesn't add up for me. My only points against I/Os even in salt is the extra maintenance headaches:
anti fouling the drive and transom mount
replacing the elbows/manifolds on schedule
winterizing/service access, although this is caused by the marine engine companies' cheapness by not making closed cooling and a remote oil filter standard, with those 2 things, the maintenance becomes much easier.
these are things you don't have with outboards commonly although exhaust parts can rot through on them, as was seen with many 4 stroke Yamahas
but when it's time to repower, or your block/cyl head rots through and puts water in a cylinder, you're not rebuilding it, you are laying out a big pile'o cash for new or late model used.
maybe in fresh water the OB would last indefinitely, I guess it's certainly possible