HELP power valve leaking

I have no input on what happened to ignition . I’ve never had any issues with any of my bikes ignition systems. But I bet your issue is previous owner related just like this above issue was .
 
Remove stator cover and see if flywheel key sheered or maybe they did not even put key way in . You will need a flywheel puller . Same one fits bunch of old Honda 2 stroke bikes.
 
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