It's pretty easy to check, find TDC then see how far off the spark is, and whether the bug is pointing to No. 1. If it needs to be retimed, it probably needs to be torn down at this point.
In a hurry to get my MTA back together to get some hay baled I did almost the same thing last summer. I started it by not paying attention to how the hydraulic system was plugged but fortunately for me an old hydraulic hose blew and no other damage. Haste makes waste and I'm still amazed I made that mistake.
In your case, since it has been converted, if it has not had the timing gear upgrade this may just have been a matter of time before the gear went (if that's what happened).
If this is the problem, the front cover of the engine has to come off, major disassembly.
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