Morning and welcome to GT Talk.
Depending on your intentions of restoring the tractor to originality or as a functional yard worker I will outline it's good and bad points.
Thankfully most of the tractor is original which is rather rare for the first models, I have restored worse to originality. I see yours is the later type with the predrilled holes on the mangled bar that connects the handle bars together above the homebuilt hitch, speaking of which the owner or before him added the rear hitch due to the lack of the tool attachment saddle bar, as to why is unknown considering the holes are there but the tractor may have been shipped to the owner without the addle bar but no worries for the right saddle bar is obtainable fairly easy. The throttle lever is original as so is the clutch lever and rod but the tension spring is missing hence the reason there is nothing between the rod and the clutch lever, also obtainable.
The tire chains and tension springs are original to the year of the tractor as so are the hubs and rims from what I can see. On the right axle I see a drive pulley not original to the tractor and can assume it was added to power a sickle mower, a common application for the time period of the tractor before rotary mowers became the norm. The hood looks to be in excellent shape overall with the exception of the hole in the front right side of the hood undoubtedly made when the tractor was repowered with the Clinton engine, one of which I find very amusing considering the engine will fill with water if left outside which states to me the condition of the engines will leave much to be desired and probably the reason why the engine no longer run. The original engine exhaust hole for the Briggs model 6 engine is on the front of the hood just below and between the louvers. Not evident in the picture is the hood latch which hopefully is still present on the fuel tank mount above the tractor's gear box and the hood catches on the front of the hood. Also not evident is the hood hinge brackets. Further pictures of the insides of the hood will reveal what is there or not.
The weight is not original, it is two rail road track plates bolted together. The front engine mounting plate and attachment mounts look to be unmolested including the removable dozer plow which retains the original bar that bolts to the tool carry mount under the engine mount,
Thankfully from what I can see the fuel tank looks to be in good shape along with the original Briggs fuel bowl attached to the bottom but I see something interesting attached to the bottom of the fuel bowl and can assume the glass bowl was damaged and what I am looking at is a plug of some sort. The fuel tank filler cap and brass fuel tube is original but the fuel tube has been bent to a different direction to accommodate the Clinton engine. I see no fuel tank straps on the tank mount seated directly above the tractor's gear box.
The Clinton engine is something of a cluster missing the flywheel cooling shroud and the points tin cover. Interestingly I see a partially exposed paper type identification tag on the cooling fin cover and a early type Walboro carb which tells me the engine is of a numbers series but still retaining the thumb type oil dipstick the 3 hp model B and 4 hp D series used. A quick search through my Clinton manuals will confirm it's build years and exact model numbers.
Other members of this forum will be able to fill in what I missed. Overall I would rate your tractor in fair to good condition taking into account the year it was built, 1947 to 1948 and rebuildable and well enough to be put back into service for the next 20 years.
The day is nice outside and calling me and I must comply, I wish you a great day.