Just picked up an 81'KZ550-A2 for $150...you gotta love craigslist sometimes.
Owner said the bike ran fine until one day last year it would not start. He was confident it was an electrical issue. Said he replaced the igniter after a previous problem and had no issues until now. Owner also said it was leaking oil from the headgasket, but I found it to only be leaking from the tach cable down onto the engine and exhaust...
I torn the bike down and went over all the ignition components with a multimeter and found no issues. Was not able to visually inspect for spark, but I will later this week at some point. Inspected the carbs; they were clean. Replaced some corroded wire connections, carb intake boots, air filter, battery, fresh oil and filter. Front brake was locked up also. tore that apart and fixed.
I put everything back together and tried to start it up. took a while to start but eventually it did. Bike ran for 30 seconds or so while i held the throttle but then died. Started a few more times but would not idle. After that the bike would not start again.
I noticed gas on the bottom of carb #3 and on the garage floor so I figure they need rebuilt. Ordered rebuild kits for all four. My best guess as to why it started a few times but won't start again is either that the tank had some light rust that quickly clogged up the jets, or that the seals in the carbs are bad and allowing too much gas to flow into the bowls.
Either way I'm going to rebuild all the carbs and install a small inline fuel filter. I think I have mostly eliminated the possibility that the problem is ignition related or electrical based on my tests and the fact that it started, if only briefly. I still have to visually check spark though.
Any thoughts or suggestions? All in all, the bike is complete and clean so if I can get her running I think made out pretty good for $150