Hmmm.. a speed 400 motor would be the obvious choice I would think.. but weight is obviously an issue here. How fast do you want to go?
I might be tempted to build, seal and float with a speed 400 (or a 380) and see how deep it gets before building in the motor mount, if this is possible.. Is it a 2mm shaft with this kit?? there is very little choice of props at this shaft size, and they tend to have very little pitch.
From the blurb on other sites the kit measures 395 by 210 or something. Should be ripe for conversion!
Ashley