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I noticed the fuselage aft of the prop has a small hole in it. anyone know what this is for?

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Yup. This is connected to the drain at the bottom of the engine lower bulkhead/pan/firewall. Should liquid leak, it would drain there.

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Michel is correct. Its actually really convenient when draining the coolant during maintenance as you can just drain it into the firewall and put a bucket and some neatly situated aluminum tape to direct it from running down the belly.