1986 Force 50 HP thermostat or Impeller??

[Dawn Marie]

We have recently purchased a 1986 Bayliner with a 50 HP Force motor. Took it for a test run and saw that very little water is coming out of the "pee hole". Have took apart the lower end and looked at impeller. It APPEARS fine and it has been suggested to check the thermostat. UMMM, where is the thermostat?? May have other questions as we get in to this so we will start here. Thanks for any info or guidance