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What's wrong with it? It looks really good. Clean the tank and carbs, change the oil, slap in a battery and fire it up?
Get a manual, take your time, and you will be fine
Liquid electrical tape? New one to me. Get a couple of carb kits and clean them one at a time. Dellortos are easy. As for tanks, I like using white vinegar, flush it with hot water and then flush with rubbing alcohol, fog with WD40.
I'm the previous owner of this bike. It was actually one of my favorites, however I have 6 bikes in a queue waiting to be worked on, and I knew that vxn750 had been looking for a V50 for a few years - plus I was BMW air-head curious. The bike is incredibly original - right down to the petrified tires. I do not know whether the last owner added that fresh-looking oil or it was added long ago. Whoever it was filled it to the brim, so hopefully it was a smart move to prevent condensation. The registration sticker says 1981. It really appears that the original owner rode it for 6 months and then parked it in a shed for 44 years. I think it will be a fun project and will be stoked (and a little jealous!) if it can be running again without major work. I'll definitely own a V50 again, but will need to purchase something already finished as I continue to work my way through my other projects.
How's the project going?At first I thought you'd got a real cracker there, when I saw your first set of pics. The overall cosmetics look great!As I discovered, it's only when you get close up and personal that you really discover the delights. Well done on picking your way through it all and I think that you may well be right with the black wire. If you haven't confirmed already, I can take a closer look at my bike, to see where a "rogue" earth (frame) connection leads to.How the heck did that gearchange rod snap? I think that's the neutral switch wire that's been gnawed at.If not already done: remove the clutch arm clevis pin and give is a good greasing.I don't normally venture into this section of the forum but I'll try to remember to pop in, from time to time. I hope that you're enjoying the exploits of my V50. Potentially, you should end up with the better bike.
Just looks gummy to me, not "burned up". I find that the left carb is often the least dirty of the pair, maybe due to the bike being on the sidestand and gas staying in the left carb longer.
Fuel petcock question:Should the filter be replaced or just cleaned? I’ve seen suppliers selling the whole petcock assembly, but the filter itself isn’t as easy to find. Also, it seems like the replacement for the plastic washer is a fiber washer. Sound right?
I usually just clean them unless they're damaged. I do have a few spare new ones if necessary. The washer MG Cycle sells is some sort of plastic. Fiber might actually be better - the plastic one compresses over time and the petcock needs to be tightened slightly or a leak will result. https://www.mgcycle.com/index.php?main_page=product_info&cPath=379&products_id=1401