boat ran great all weekend.went to havasu...well this is the second time out since i changed the oil. Monday i went early for a cruise down the lake,maybe on the water for 3 hours.just for shits and giggles i checked the oil and looks like condensation on dip stick,inside oil fill hole was not full of milk.little white on bottom side of oil cap.
so now what,drain the oil and check for water?
run it and see if it gets worse?
pull the heads?
thanks guys,i know i'm in good hands!
also i have no idea how many hrs on the motor.

thanks b-rad.boat has great oil pressure all time.

You mentioned you were on the water for 3 hours, but how much of that was actually running the engine?  As Brad noted condensation isn't anything to worry about but you should keep an eye on your oil level and amount of moisture you see. 

I rarely have any visible condensation on my dip stick or my valve covers, and I believe it is due to my wife running my boat hard enough and long enough to get it up to temperature so that most of the moisture is evaporated.

Fixed it for you Keith.

That's funny