Bought this gem for $1500. Drove her for 2 days and came out to a puddle of coolant underneath her. I knew there was a catch...

Anyway, long and short of it is that from what I've been able to find/pull off, it looks like the thermostat housing has been leaking from where it mounts to the engine block. I know the pic is a little blurry, but the plastic flange inside the housing was completely corroded, thus rendering the gasket useless. 

After a few attempts at a quick fix with some form-a-gasket, I've ended up purchasing a new housing from the dealer and putting it on. I haven't run any coolant through the system yet. The real issue will be trying to purge the system of any vapor locks assuming the bleed has finally been taken care of.

Oh well. For $1500, she's bound to have a few surprises. But she sure does look and drive nice when she's healthy!

Anyone else have any problems with a slight ticking coming from the motor? I was told by the dealership to switch to 10w40 oil and see if there are any improvements. I thought it was the lifters, but they said chain tensioners perhaps?