Welcome to TBN.
How much do you know about these old 8n's?? Are you familiar or a total rookie??
I have a few questions, suggestions, and tid-bits of info for ya....
First, I believe, based on your serial #, that it is a 1950 and NOT a 1949.
It is obviously a old tractor that does need some
tractor touch up paint, but for starters I'll tell you what I like about it.
I like the adjustable 3PH arm that you can reach from the seat. This is a pretty desirable feature. It also has draft control, and appears to have decient rubber. Someone has also converted it to 12v.
Now, the things that need attention, that seal, just keep an eye on it. Because the PTO needed to run for the hydraulics to work. So that PTO could have been left on all the time. And if the tractor was used ALOT, 1/3 cup of oil aint bad. But If you do replace it, it is a quick and easy fix.
You also need to hook the air filter back up. You dont want to suck a bunch of dirt into that carb.
Feel free to ask any questions. But I am curious if it has a sherman (another desirable feature). You didnt give us a pic of the tractor from that side. The sherman will have a "dog-leg" lever that is located on the side roughly between the clutch pedal and starter.
And I didnt see if you mentioned, but I assume this tractor does run??