Yes, I used Teflon tape on the threads when I installed mine. Regarding coolant I just bought some premix from the local auto store to top mine off. And yes it will drain some coolant out when the plug is removed even if the radiator is drained. Definitely put a catch pan underneath, helps with cleanup, I found that out the hard way! It is located on the left side of the engine directly above the starter. Easiest way for me to access it was between the loader mount and the cab, just enough room to get my hand and tools through to remove. Coldest temp I started the tractor in was 10 degrees but it fired right up with no cackle and very little smoke, worth installing for sure.