I'm not entirely sure about the hull size for the Revell 'Flower' class corvette, but does a hull size of about 2 foot long by 6 inch with a depth of 2 inches sound about right? This is about the same size as the old HFM ocean tug that was available until the mid-90's, in which case I can probably help.
For this hull, we used a 6-volt motor as supplied with the kit (roughly the same size as a Mabuchi 365) with a Bob's board (how many remember them?) as speed controller. The kit recommended using NiCad's space evenly on each side of the hull by the motor, which wouldn't have worked due to the steering servo positioned in the same place. I 'cheated' and slid a 6-volt, 2.4Ah lead-acid under the rear decking alongside the steering rod. Trimming was done using stones picked up off the then local beach and it ran for many years with this set-up, before the battery deteriorated due to age. The replacement is a Ni-MH pack with 7.2 volts, 3600mAh. Same weight surprisingly, so not had to do too much to the trim.
The higher the Amphour rating, the longer the running time for your model. Try not to connect batteries in parallel (side-by-side), from my own experience this has led to batteries being damaged if one of the pair is heading towards the end of its life, regardless of how many charges it has taken. In theory, rechargeable batteries can last up to 1000 charges, but this depends a lot on usage, charging and storage.