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Yup, if it's doing that cold then the high end jet is plugged. Carb rebuild time.

Vapor lock, the fuel was boiling in the fuel line so you weren't getting enough fuel to the carb. That's why it still burped when you choked it. When it happens again, choke it a little more to get it running and then run it for a minute or two without a load to cool the motor down. A running...