Weak spark. Check the spark at each plug, at the plug, not the cap. It should be able to jump 1/4" to ground.
Retarded ignition timing. Most magnetos will only go on one way with little chance of getting out of time, but depending on how far apart it has been anything is possible. See link below.
Cam timing off. Highly unusual unless it has been apart and improperly timed on reassembly. Easy enough to check, get #1 to TDC firing position, #4 should be in "overlap" position. Slightly rocking the crank back and forth near the TDC position, watching the intake and exhaust rockers on #4 should be both valves closed at TDC with each equally just opening as the other closes.
Lack of fuel. Either lack of fuel being delivered to the carb, or restricted flow of fuel through the carb. Check the fuel flow through the carb by removing the drain plug in the bowl. It should flow a full stream, not slow to a drip or stop flowing. Catch the flow in a clean glass, see what is caught. If dirty or water contaminated, the tank will likely need to be removed and cleaned. If good flow through the carb drain, it could be clogged internally, as in a partially restricted main jet. The carb is simple and field serviceable, can usually be eased apart and cleaned without a kit.
The unusual. Look for restricted air intake or plugged exhaust. Rodents, birds, mud dobbers can get into the strangest places. Inside the air canister, above the oil cup, is a wire mesh that needs periodic cleaning. It is often overlooked.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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