My lipo and other stuff finally arrived in the mail and I can put every component together to see if they work.
Made a battery tray for my new lipo.

Lipo sit on top of prop tube to be as low as possible. BEC for the lipo attached to bottom of deck and receiver attached to superstructure.

Here's how it looks when put together in the final stage.

One strange thing happened after I have decided to use a lipo for the power instead of AAA batteries. The left and right screws are to be driven by the Tx throttle and elevator stick. However, with this lipo plugged in, the throttle stick is able to run both screws (with elevator stick still in neutral) and the elevator stick controls only the left screw. In this unexpected setup, I can now use the elevator stick to control the direction of the boat by altering the speed and direction of one screw.
Ok, so much for the drive. The boat now sits slightly below the waterline. Shall be doing a sea trial (pond trial) after I have finished painting the boat.