Do the basic troubleshooting......
Remove all spark plugs.
Check the compression... what is the compression psi of all individual cylinders?
Plugs still removed... check the spark which should jump a 7/16" air gap with a strong blue lightning like flame... a real SNAP!. Does it?
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(Spark Tester - Home Made)
(J. Reeves)
Most auto part stores have "air gap" spark testers... OR..........
You can use a medium size philips screwdriver (#2 I believe) inserted into the spark plug boot spring connector, then hold the screwdriver shank approximately 7/16" away from the block to check the spark or build the following:
A spark tester can be made with a piece of 1x4 or 1x6, drive a few finishing nails through it, then bend the pointed ends at a right angle. You can then adjust the gap by simply twisting the nail(s). Solder a spark plug wire to one which you can connect to the spark plug boots, and a ground wire of some kind to the other to connect to the powerhead somewhere. Use small alligator clips on the other end of the wires to connect to ground and to the spark plug connector that exists inside of the rubber plug boot.
Using the above, one could easily build a spark tester whereas they could connect 2, 4, 6, or 8 cylinders all at one time. The ground nail being straight up, the others being bent, aimed at the ground nail. A typical 4 cylinder tester follows:
..........X1..........X2
.................X..(grd)
..........X3..........X4
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Since you've re-worded your post problem.... (fuel coming out of carburetors when the engine is not running).... the carburetors possibly are flooding. If so, clean and rebuild them as needed.
(Carburetor Float Setting)
(J. Reeves)
With the carburetor body held upside down, the float being viewed from the side, adjust the float so that the free end of the float (the end opposite the hinge pin) is ever so slightly higher (just ever so slightly off level) than the other end. And when viewed from the end, make sure it is not cocked.
That engine should start within six revolutions, hot or cold.