What would happen?35thls1ss19 said:
Possibly (or will) over heat causing extensively more damage than there already is, could on fire
Overheating to the point that it seizes and being left stranded on the water
Bottom line is with water in the oil the engine will overheat and its all down hill from there.
Absolutely not the right choice to make unless it was an emergency.
Do your self a favor and either fix it now or wait but don't take it out on the water. You could find yourself in a situation that could hurt yourself and others.