You'll have anode rods if it is electric, if it is gas you won't.
How old is your hot water heater? If it has any age on it at all, it may well be worth getting a new one. If it isn't very old, then you would want to change out the valve.
Also make sure you shut off the tank, drain the water out as you may have a lot of calcium or iron buildup in the bottom. A periodic flush of the tank helps add some years to it. And if either gas or electric, do not fire it back up until it has water back in it. Many people have blown brand new elements in electric tanks because they would turn the power on before filling the tank. The elements would heat up and when the cold water hit them, blow.