Hey Joe, I was thinking of trying this same procedure you outlined:

…have the drums tied at one end of a rope, the other end will go under the main lift support bar and tied to the internal lift support bar, this way when I crank the lift UP, the rope will pull the drums under water, thus lifting it….

Did this work for you? do you have any other tips to try along with it? I have a boat lift stuck too deep in the muck that I want to float in a little.

Thanks,