Yamaha 40 sh balks when throttle is opened

[crankshaft]

This is like a new outboard, still has factory yellow grease and very low time. Starts like new, but balks when throttle is opened. New Plugs. When the old guy and I moved it out of his garage, oil leaked out of the lower unit. It came out of the oil injection tank. At first the motor smoked like crazy but cleared up and when the carbs had the plugs on the bottom opened there seemed to be no oil in the carbs.

 

[racerone]

I do believe the oil is injected after the carburetors.----The oil does not go into the carburetors.

 

[ClassicAQ]

Year & model??

 

[crankshaft]

Yes, but I thought it drained in there by accident just like oil drains into 4 stroke cylinders when not sat on the proper side.

 

[crankshaft]

All it was was not enough oil in the oil tank as I did not want it spilling out again and though there was enough in there for now as I tested out the outboard. This Yamaha goes into a limp mode type warning and that is what was happening as when I put in more oil it ran right. I thought a buzzer of something went off when oil was low.