There's not really any one thing to check as much as you'd look anything and everything over carefully. They were pretty solid tractors.... but age can get some stuff. I'd probably take a close look at the water pump and make sure it's not leaking coolant from the drain hole. Look for a green tracer of dried coolant on the timing cover. The bearings dry out over time and then the pump starts leaking... and if you let it go it'll tear up the fan and rad. Look at the FWD hubs too. I'd like to pull the level/drain plugs from the hubs and front differential, just to check for oil and evidence of metal on the magnets... Beyond that, check all the fluid levels. Make sure there's no water in the engine oil and no oil in the coolant... Make sure it shifts correctly. Make sure the clutch doesn't slip when you start off in sixth gear. Make sure the hydraulics lift normally. Things like that...
They're good tractors. Only thing I can tell you is that if you DO have a problem with it, you don't want to work on it. I think that tractor, with MFWD, loader, cab and a syncro transmission is a canidate for the single worst tractor ever built from a repair standpoint. They are DIFFICULT to work on. Open stations are slightly better but not much. The basics of that tractor... the 4000, designed as a 2 wheel drive, open station utility wasn't too bad, but once you pile on all the other 'features', well... they get difficult. Fortunately, you don't need to work on them much. Also... make sure it starts quick and crisp, even on a colder day. Without help. If it doesn't or produces a lot of white smoke after it starts then it may not be as young and slightly used as you're led to believe. If it needs a block heater to start this time of year, it needs and engine.
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Today's Featured Article - Tractor Profile: Farmall M - by Staff. H so that mountable implements were interchaneable. The Farmall M was most popular with large-acreage row-crop farmers. It was powered by either a high-compression gas engine or a distillate version with lower compression. Options included the Lift-All hydraulic system, a belt pulley, PTO, rubber tires, starter, lights and a swinging drawbar. It could be ordered in the high-crop, wide-front or tricycle configurations. The high-crop version was called a Model MV.
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