If you can get it to Talladega AL I can fix it! :O)
It probably has a blown gasket where the ram cylinder mates to the top lift housing. There are two little round gaskets and all they do is to level the ram cylinder so the pressure gasket is level and won't blow out on the high side if the little doughnut gaskets are left out.
It probably would be a good time to replace the piston O rings.
Don't meddle too much with that thingy on under the "acorn" nut. It is the back pressure valve and is what makes the unloading valve work hydraulically.
It should be just snug against the lift ram housing by turning the screw inwards on the big notches on it's outer end under the acorn nut.
To remove the lift housing you must first remove the acorn nut and carefully back the back pressure screw back about three rounds or so or until resistance is felt and then stop. Preferably before resistance is felt!
Then remove the lingages outside and all the bolts from the perimeter of the lift housing. The ram cylinder is held by the four bolts toward the middle of the housing.
Get a gasket and O ring kit before you start.