Following up on my thoughts, how much water did you find?
Mostly water with a splash of oil?
White emulsion throughout?
Tan with streaks of white?
I ask because the above signs will indicate just how much water is getting into the lower unit (LO). Water (I believe) can also enter from above (the shaft seal below the water pump) so you need to look at that area also (while you're installing the new impeller, T stats and pressure relief valve
). This will give you a good indication where your problem (if any) lies. Another route would be to have a shop pressure test the LO and check for leaks.
If you go the gasket route first, you can pull the plug after the first outing and check the oil. It could give you a good idea what (if any) your next step will be. Changing the oil is relatively easy and inexpensive (comparatively) so as to give you a warm and fuzzy for the LO.
Good luck.