Had a great ride this weekend.... in spite of having almost no brakes. Jumped on my sled and went to back it off the deck and grabbed the brake. Felt mushy and pulled all the way into the bar. I could pump it up and it would work but would bleed off quickly and then could not pump it up again until the next time I would use it. I tried bleeding it last night. No go. Would always act the same. Could pump it up, brake fluid would come out of the bleeder as long as I cracked it right away when it had pressure. Strange thing is, if I pull the brake handle in slowly, it collapses all the way to the bar and does not have hardly any resistance. If I pump it fast, it will build pressure but will bleed off in about 3 seconds. Fluid in the master cylinder is full, cant find any sign of a leak (traced the line all the way down to the caliper). The diaphragm in the master cylinder looks ok, cant see any holes in it. Brake fluid look like someone dumped a bunch of grey powder in it and if I pull the handle slowly with the cap off the master cylinder, you get a little disturbance (like a burp) in the fluid and it looks like chocolate milk. Fluid contaminated? Ride before there were no issues with the brake and nothing out of the ordinary. So my question is - go after the master cylinder first or does this sound more like a caliper issue?