Trim adjustment, water trap question?

[dchappy14]

I recently took my boat out for the first time. It is a used boat with a 2000 yamaha 200 EFI on it. The trim gauge is a multifunction tach/trim gauge. When I am running with the motor trimmed all the way down my gauge is still reading at a level "2" on the sensor. Is there any way for me to calibrate this easily to get the proper adjustment readings?

Doing quick check through engine I noticed that the water trap under the oil tank is full. This is my first time owning so I am still getting used to what to look for. Should this be full of oil? water? or always empty?

If this being full of what appears to be oil is not right what is the best action to take. I have been around automotive quite a bit, but don't want to start tinkering with the outboard just yet.

Thanks!

[BuzzB8]

The trim cam is on the steering tube under the front of the engine. You may be able to make adjustments to that cam to get the gauge to look as you want.

If there's oil in the engine tank tube, I would think you're ok. You don't want water or junk in it, though. Honestly, I've not paid much attention to mine.