Clean or replace the tank. Remove, clean and rebuild carb IF it gives you trouble. Expect to have to adjust valves. New plug, fresh get 'er done 91 and she’ll probably run like a top. Oh, and go ahead and pick up a new pull string assembly. Always good to have a spare. I went through this exact same thing when I built my backup 5.5 last year.
Well, since you own it already & assuming you need something to tinker with this winter… adjust the valves, drain the fuel, drain the oil, buy the kit linked below, install whatever parts you see fit. Add oil, fresh fuel, pull the rope & see what it will do. Looks like it’s been sitting outside just looking at that rusty muffler. At least you don’t have to worry about that 250 burning a hole in your pocket.
Years ago I bought an ‘87 Honda CRX on eBay. My wife, girlfriend at the time, and I drove from South Carolina up to Maryland to pick it up and drive it back. I bought it with about half of a tank of fuel in it and with the car getting about 40 mpg’s I wasn’t too concerned and headed south. Upon my first fuel fill up I soon discovered I had a rusting away fuel tank as the fuel being added from the pump stirred up a ton of rust on the bottom of the tank which led to clogged fuel filters, fuel pickup sock, etc. After limping it back home to SC I did quite a bit of research and was led to remove the fuel tank and then take it to a local radiator shop that has some sort of acid (?) bath that they submerge it in to. Then they coated the inside with something that prohibited rust. It was significantly cheaper and quicker than trying to locate a decent used fuel tank for a 20+ year old car. Slapped the tank back on the car, replaced some fuel injectors (as this was the fuel injected model making a whopping 121 HP) and she ran great after that.
Great find! That thing will purr like a kitten with minimal effort. Looks like a newer machine by the fuel cap and pull cord cover. The leaking fuel is probably the carb. You coukd probably repair but replacement is a cheap option also. I bet they pulled the machine off the truck to wash and sh mist got on it and thats what the rust is. Youll be able to resell that in the spring for a healthy profit
unless the carb was abused or cleaned by a brute, it should be simple fix. after you drain oil. once you see if it starts, should you get to that point, and once you empty the oil in it, see if the low oil sensor works by simply trying to start it. just add some chain to the tank and shake it up to remove scale. empty it and you could coat it with some POR.