Keep spending! And after you have the the price of a new one in it and still have a 50yo piece of junk that isn't reliable, then go buy the new one.

I learned my lesson at a young age about getting stranded on a boat (or losing power when you really need it). The only thing worse to have let you sit is an airplane.

Those coils are both junk. Get new ones and hopefully you'll be all set.

Looks like your coils may need to be replacxed.

I had issues one time on a borrowed rowboat and motor.

Seems like i didn't open the vent on that tank.
The motor would run for a little bit then it would stall, until tank pressure evened out each time.
Took like 10-15 minutes each time.

Hellooooooo,McFly.

Only question I have is, are you running it in water? Most of those types of boat motors need to be mounted in a barrel or on the boat to run. They pump water for cooling purposes, and if you run it out of water, you will cook it pretty fast. Thought I'd mention it, I didn't see where anyone else has. I've got a two hp Evinrude that used for a kicker on a canoe, and it has a pump in it.

Yup got it in a 50 gallon barrel full of water when I tried running it.

It was used too much when it was new.
There's a good chance someone ran alcohol thru it and ruined the rubber diaphragms in the carbs. Also the cracked rubber fuel lines sucking air.

50 gallon or 189.271 liter barrel?

One thing for sure is that the rubber impeller has to be replaced or it will be done in 3 minutes of running.
both those coils are cracked and discharge once they get warmed up -replace.
ebay is you best should be 20-30 bucks

Just make sure your oars are in good shape.