I presume you mean water as in rain water and not water as in Antifreeze?? neither are good for an engine but the later is better than the 1st.
if rain water we (others commented) presume that the exhaust was uncovered and the rain got in that way? if so you'll definatly have to pull the engine apart.
the Case 730 i had was that situation, uncovered for years and rain in #2 and #3 cylinders. I had to drill and chisel the pistons out and they didn't break loose until i got down below the pin into the piston skirts they were stuck so bad. for my situation it was less $ to part out the tractor i had and buy another running model for about what i would have had in the rebuild.
my FIL and i were able to unstick a tractor engine once by bumping it with the starter and it eventually came loose but it did not have water in the oil
so with a bad MFWD and a bad engine you may want to look for another tractor????? how is the rest of it? 16 years sitting out isn't kind to them. dry rot tires? faded/rusty paint?? mice in cab? ect ect
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Today's Featured Article - Upgrading an Oliver Super 55 Electrical System - by Dennis Hawkins. My old Oliver Super 55 has been just sitting and rusting for several years now. I really hate to see a good tractor being treated that way, but not being able to start it without a 30 minute point filing ritual every time contributed to its demise. If it would just start when I turn the key, then I would use it more often. In addition to a bad case of old age, most of the tractor's original electrical system was simply too unreliable to keep. The main focus of this page is to show how I upgr
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