Wow, congrats. on your S2 7.3, I had to
buy mine.
Mine has an Evenrude 9.9 that tilts and has a lift. It takes four men and a dog to pull it up. I just leave the lift down and tilt it in/out of the water. There is a lever on the right side of the motor that has tilt on one one side and run on the other. If the motor is up and I want to tilt it down, I have to flip the lever to the run position and visa-versa. To get it to tilt down I have to pull up on the back of the motor which releases a latch and the motor can go down. There is an indented sort of handle on the back of the housing I can grab to pull it up. So, look for some kind of lever or handle that flips to unlock it.
I'm thinking of drilling a hole in the handle and running a rope through it to make it easier to pull up.