Ok, so I bought a 1967 Ford 3400 gasser with a loader for $2600. I was overexcited and I bought it without looking it over thoroughly.... So I get it home and I pull the dipstick and realize that the oil is a milky tan color, meaning water in the oil. The tractor did not smoke when it ran. There were no bubbles in the radiator or oil in the radiator. I found out the breather tube was plugged and figured the water got in the engine by condensation from only being run for short periods of time. So I found some advice online that said drain the oil, fill crankcase with diesel fuel, disconnect sparkplug wires, turn engine over 10-15 seconds to mix it all up, and drain out. I did this twice, then refilled with oil, ran it a few minutes, and parked it in the garage. The oil looked fine on the dipstick, so I figured I was OK. Now it's 2 weeks later and tonight I pulled the drain plug and milky tan oil came out. Uh-oh. The oil on the dipstick looks fine still. What does this mean? I thought since I had no smoke when it ran and no bubbles in the radiator that my head/head gasket were OK. Do I have a rust-through in the water jacket?? Or is this water left over from before somehow? Help!