teelee1

I am a Honda guy myself. If you can find a Rancher even a older 350 thats not beat to death for that price.....get it

At the bottom of the engine in the rear where the Reverse cable goes down to  there is a lever attached to that cable. Put it reverse and see if that cable is moving the lever far enough. If not you can adjust it from the top left section of the cable with the threaded part of the cable.

That tube at the bottom has a one way check valve. Thats probably what you seeing and that is an overflow vent. That is overflowing because your seat and fuel bowl is probably clogged with gunk and thats the cause for both the drivability and the fuel leaking. Remove the carburetor disassemble it and clean it. Or get a nee carburetor