Yeah I knew they were going to take some money, wasn't aware how deep the pit really is!
The red cable runs to the pump through the top hole and leads to the reverse lever, pictured below. Ordering replacement tonight.
Pulled the bearing housing and the back side seal was shot. I will try to remove the bearings and rebuild, may replace with a used unit. Will heed advice and confirm fit before purchase. Bad unit below.
For some good news, I successfully helicoiled two headbolt holes on the other cylinder. I messed up the first one by not researching enough and probably trying to rush things.
Painted all the brackets to match. Need to do some good cleaning and prep work still in the hull before slapping the 5200 on it. Should I wait until the jet pump unit is complete and reinstalled before "fitting" the ride plate and intake grate for the brackets install? Or the can the ride plate and intake grate be fitted while entire jet unit is remains removed?