Departure and Gear Malfunction
On a dual instruction cross-country flight planned in instrument meteorological conditions, the second pilot, who was also the owner/operator, and an instrument flight instructor departed a lake resort airport in visual flight rules (VFR) conditions. During the initial takeoff climb under VFR, the landing gear failed to retract.
Return and Engine Power Loss
The second pilot, serving as the manipulator of the controls, initiated a VFR left downwind landing at the departure airport. While abeam the runway numbers, the engine lost all power. The airplane was not maintaining sufficient altitude to clear trees.
Emergency Forced Landing
The flight instructor took control and executed an emergency forced landing into the water. The aircraft was subsequently recovered.
Post-Recovery Inspection
During recovery, it was noted that the jam nut on the throttle cable and the tachometer drive cable ring nut were loose. After securing both nuts, an engine test run throughout the power ranges was conducted without anomalies.
Maintenance Records
The airplane's records and tachometer indicated 15.76 hours since the last annual inspection. The gear microswitch tested satisfactory. However, water in the gear motor and powerpack prevented testing of the gear retraction system.