94 Ford E350 Shuttlebus - Did I just get had?

Hey all!

Purchased a 94 ford shuttlebus, with the 460 in it.

Good price! Too good?

I got it home and when I was showing my neighbor he asked if it was dripping water from the tailpipe.

After reving it up good we do in fact see water coming from the tailpipe. And I found some oil in the radiator, could be old, but not water in the oil!

Is this the sure shot cracked block? Or could it be something else?

Many thanks!


Time to run this by a mechanic for a prepurchase inspection.