I would start by dropping the lower unit and pulling off the water pump and base of the pump. The seals you will need to replace will be in that area. If the drive shaft is pitted like mine was and you can't find a replacement, it can be spray welded and re-machined. If that is the case, you will need to go deeper into the lower unit to remove the shaft. Looking at parts explosions of your motor type, it seems that your's is similar to mine. Welcome to the Antique Outboard Club!!!
I have seen a lot of tools on EBay for these motors, but a pin punch can be used to remove the nut holding the prop shaft bearing carrier. Or you can make tools.
Roberta
