What was found
ON ROTATION NOTICED ODOR AT 500 FT AGL IT SUBSIDED BUT RETURNED 30 SECONDS LATER AND INCREASED 4 MINUTES FROM ROTATION SAW SMOKE IN COCKPIT. DECLARED EMERGENCY. COMPLETED SMOKE IN COCKPIT CHECKLIST. RETURNED TO MCO. INSPECTED E & E BAY WIRING FOR DEFECTS NONE NOTED. INSPECTED LT & RT ACM'S NO DEFECTS NOTED IAW B-727 M/M 21-55-11. PERFORMED OPERATIONAL CHECK OF LT & RT PACKS NO DEFECTS NOTED IAW B-727 M/M 21-55-0. PRESSURIZED AIRCRAFT TO 7 PSI NO DEFECTS NOTED IAW ASTAR JRH CHAPTER 6.3. REMOVED AND REPLACED LT & RT WATER SEPARATOR SOCKS IAW B-727 M/M 21-55-51 (PRECAUTIONARY PER MAINTENANCE (MXC)).