No smoke from rear of my very just smoke and burning coolant smell from under the hood. Can't seem to locate the source.

 

will be dripping on exhaust/turbo manifold , usual culprit is coolant to manifold crossover O ring
but also the nipple on the rear plate that feeds the wax cam is known to corrode out

check the ground under the exhaust manifold after an overnight wait

 

Its possible. There are two coolant lines that run to the bacv which are fed from the rear iron to the front iron. Also there's the two heater hose lines, mostly likely the one thats around the oil filter area, as the other one has a hardline that runs from the lower radiator neck to the firewall then turns back into a rubber line to connect to the firewall on the passenger side.

Another possible problem is a leaky freeze plug on the back of the rear iron behind the flywheel/flexplate. This is an unlikely issue, but it can happen (ive seen a pinhole leak in a mid 90's taurus so thats also a plausible cause of the smell).

Suggest replacing the heater hoses and checking the two lines that run to the bacv. Also check for a leaky waterpump and maybe even a crack in the stock plastic radiator.

 

depending on the model but I had the same problem on my TII and it was the O rings between the LIM and the keg.