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Cavitation plate 1 inch above keel is no problem at all. 1 1/2 inch should also be ok even with the alu prop. (But you should consider a ss prop if you want better handling)
That should be about two holes up. But it may differ between different brands. My Suzuki is at least 1 inch above the keel with only one hole up. I will probably raise it on more hole when I have time.
Be there when the motor is mounted to be sure it gets on the correct height.