I've had a 1986 ranger for a few years now. Bought it from an old fellow, even older than me who only used it to haul firewood. 49k then, 61k now.
I've been happy with it. It's 5 speed, fuel injected 4 wheel drive, v6 2.9. it's black with a lot of surface rust.
I've had some questions in the past but have managed to solve them without assistance. This time I'm kind of stuck. Drive shaft fill out from the rear from a broken mount.
I'm happy to repost this question elsewhere to abide by protocol.
Thanks, Lance

 

Welcome to the forum

4X4 extended cab Rangers used a two piece driveshaft with a carried bearing

Google: Ford ranger carrier bearing

See if this might look like your problem