Hi, wibplus.
My Bugsier has a 60mm 3 blade brass prop driven by a 6volt Decaperm motor geared down about 2 to 1.
Wouldn't recommend the Decaperm these days - far too expensive, but would think in terms of a large slow revving motor like the MMB900 (Mark's Model Bits) or Graupner 720BB. Similar prices.
Don't see the point of using LiPo batteries. You would have to add ballast anyway and might as well do it in the form of a decent size lead acid battery - say a 12volt 5Ah. Much easier to manage than LiPo's.
Almost any 15amp ESC (Action, Mtroniks, Electronize) with forward and reverse should be suitable for use with a lead acid battery and brushed motor but not suitable for a LiPo setup as most don't offer low cell voltage protection - i.e. the battery going below 3volts per cell which does it no good at all.
Hope this helps,
Mike