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20 minutes for the 3 point to drop? That's great! Lots of us wish ours were that good. I'd try lifting something heavy just to make sure it can do it, but it sounds like it probably can. This isn't something that needs fixing. Rich running is no big deal, lots of them do. It can be a poor state of tune, poorly adjusted carburetor, or necessary adjustment for carburetor wear. Again, no big deal. Oil pan leaks. If you mean around the crankshaft seals, that's not very uncommon. Fix it if you wish, or just keep adding oil. If it's a leak around the oil pan mounts, I'd look a little closer. Those gaskets don't blow out. So it would be a good indication he's had the pan off. I'd want to know why. Check also to make sure it's not a crack that's leaking. Steering box seepage wouldn't concern me overly. In fact, it actually indicates someone's lubricated the steering box! As long as the wear in the box doesn't seem wild, I'd not loose sleep over this. The price sounds ok. Not stellar, not earth shattering, but perfectly fine. You could find a better deal, but it would take you quite a bit of time, fuel and effort.
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