How Do I Bring This Old Beauty Back To Life?

[Checkers]

I need some advice on how to start this saddle. I got it yesterday from a lady that knew nothing about it. (posted on craigslist) Luckily I spent very little money on it so putting some money into it isnt a huge issue. I talked to my dad who was raised with horses and he said to work saddle soap into it or saddle oil. I tested a small area with the soap and it reacted fine to it (black part) and same with the oil. However, the saddle is extremely dried out so I have put about 12 coats on and still needs more. So I decided to test a small area on the red part and thats where the issue is. I worked a little bit of saddle soap and water into it with a cloth and the red came back off. Im not sure where to go from here with that! I need some advice! I dont want to have the saddle completely redone bc its truley an old beauty. I would like to try to just let it soak up as much oil as it can and go from there. Any other suggestions? Thanks in advance!