Buying Advice What to look for in old Ford 550 Backhoe?

[777funk]

The engine seems to run, all is said to function ok, but is there anything expensive I should watch out for?

 

[RickB]

Forward and reverse clutch packs and torque converter if equipped.

 

[fried1765]

The engine seems to run, all is said to function ok, but is there anything expensive I should watch out for?

Any old TLB can quickly bury you with repair expenses.
Much better, if you can find old, but with very low (verifiable) hours.
ALL machinery parts and pieces wear out, and hours of use is the cause of wear.