Whatever you buy make sure it's a brand that has good dealer support in your area and for a first tractor get one that is fully operational. Cheap fixer uppers many times turn out not to be cheap to fix.
Spend a little extra if you can and step up a few years, but personally I wouldn't want anything newer than a 2000 model due to all of the electronics that where being added to later models.
Many today refer to engine hp ratings rather than pto hp, I always go by pto hp which is less than engine hp but in reality is what you'll actually be using when operating implements driven by the pto.
John Deere 30-40-50-55 series built from the early 70's to mid 90's I consider to be some of their best. Someone that knows JD's will have to recommend which ones are in the 50 hp range.
IH 544-574-584 are good ones to have
Ford 4000-4600-4610-4630 are all same tractor, the higher numbers are just newer updated models of the original 3 cylinder 4000. they made a SU version of this model that is a nice compact tractor with plenty of hp but has a swept back axle that I don't recommend for loader use.
Haven't keep up with MF models so I don't know what models to recommend, I've heard more bad about models with multi power than good and would steer away from those models.
Allis, Oliver and a few others made good 50 hp tractors but dealer support is a thing of the past, although after markets parts are available most times they have to be ordered.
For this reason I can not recommend one to a first time buyer unless they are familiar with one of them.
Having grown up on Fords and spent many hours on dads 850 (older version of the 4 cyl 4000), I have fond memories of that time but in no way do the older 4 cyl models compare to the 3 cyl version that has more over all power (69 and later are 52 pto hp verses 46 on 65-68 models), better brakes, stronger front axle and is a much more stable platform. To a fist time buyer I recommend stepping up to a 4600 or later that has improved steering, paper air filter, and other refinements that I wish my 4000's had.
Also be sure to get a tractor with a hydraulic remote valve, many of todays implements use hydraulic cylinders and such, several older tractors didn't come with hydraulic remotes to operate these implements.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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