You sure the transom will hold an outboard? Small/old bayliners aren't known for long lasting transoms in the first place (I can say this as an "ex-owner") and that boat may not have been manufactured to accept an outboard at all. It's a whole different story for weight and stress. The stringers are taking all the weight in an I/O. You have a big hole to plug even if it will take it. Weight distribution in the boat will change a lot too.
You might be better off selling and buying a similar boat that was built for an outboard.
Oh.. Controls and steering will need to be changed out too. I'm pretty sure this is a losing proposition for you.