Depending on how much is wrong with it it still might be worth fixing. If demand is high for them and they fix it up they could always sell it when a diesel is more affordable.
I would pull the plugs out and give them a good look. They could be fouled if the engine is using oil. They can also tell you a bit about cylinder condition. A compression tester is next. A decent one shouldn't be much over 20 bucks.
We ran one for years and it stuck a valve. They get carbon baked on them from running so hot. We were advised to put "top oil" in the gas to prevent it from happening again. It was about the size of a 2 1/2 gallon pre-mix oil container for 10 or 12 gallons of gas. Bardahl made it.
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