Mumbles,
I agree, Bad seals. Are your mag parts coated in oil? I wire wheel the points then dress them with 800 wet & dry. Please do not rev it up out of gear. Remove the mag & clean everything to the tiller linkage. No short cuts, take your time & it will reward you. Replace plug wires as they leak getting old. Check your carb pick up for timing. ?Doing all this will save your arm when it is cold. Give it a major tune up & check the gearcase for oil too. Good powerful motors when set up correctly. Run the idle jet a little rich to cool pistons. Be sure it has the correct heat range plugs.
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