I'm in the midst of addressing the same problem (among others) on my 100 right now.
I had trouble getting it started this past weekend, and because I will be doing a full teardown and resto of this tractor in the next month or so, I'm not at all worried about the paint. Sparing the boring story, I got a little (ok, WAY) over zealous with the brake cleaner and just watched as the many layers of wrong color paint just melted away. ...so although I was very pleased to get a head start on paint removal, especially on the carb side of the tank, I'm finding that that paint was serving an essential purpose: keeping the gas from weeping through some of the microscopic pinholes in the tank. I woke up to a gasoline glazed sediment bowl and tank end.
Anyway, after extensive interweb surfing, I'm finding that although it's not been a huge problems for the cubs, many of the older boats, tractors, and airplanes are having similar issues and many of these problems are blamed on ethanol in the gas causing accelerated deterioration of the tanks.
Even though it's a bit more expensive than a bunch of the off-the-shelf 'tank sealers' out there, I just picked up a Caswell Epoxy Gas Tank Sealer kit (~$50 shipped) which will seal "2 5-Gallon Tanks".
Once I get it, I'll seal the tank and let everyone know how it works out.
Anyone else have any experience with this Caswell kit?
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