Posted by Jetbird on December 30, 2012 at 04:34:54 from (188.8.131.52):
Update: It took me a while to fix some other issues with this tractor (see my other posts), but it's finally back together and running and no water in the oil! Looks like my original surmise was right: plugged crankcase breather and lots of short runtimes by previous owner led to buildup of condensation in the engine, hence the milky tan oil. I did one more oil change and ran it and there is no more water in the crankcase. I'm so glad it wasn't a rust-through in the water jacket! What a relief!
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