Gwbarm

Yes that would be my guess.

Agreed! It is temporary, after you get a few and get them up and running and looking good, then you have to decide which one to ride today, and maintenance, it seems like you never get finished with one before you want to start on another.

I think 15 ft pds is all thats required for the oil pump bolts.

Hmmm! You haave replaced most everything related i would have guessed the starter cutout relay except for the lights flickering , that kind of points to a bad ground, time to start checking wiring connections.

Where was it set , so the faancy screwdriver actually works.

There are many aftermarket ones on Amazon, just find the right size they should work fine, never had a problem with aftermarket shocks.

If it’s blowing black that usually a sign of running rich , if the smoke has a bluish tinge to it it’s oil burning

My expieience with most after markets is they are factory set a little lean, but Mech is right it is acting rich, my thoughts is try to adjust the mixture as well, and see if it helps, but lean running will also make it idle faster, but it should idle faster all the time not just when its cold.

I think you are on the right track replacing the head, thats what i would do, machine work is not as cheap as it used to be and could exceed the price of a used head in good condition. I would look on Ebay and im not a big Ebay fan but when it comes to good quality used parts i have had good luck, there are somw quality seelers of good parts there you just have to look.

Not necessarily it could still be a bad sending unit those things are fairly fragile

Good point!

The way you are describing it sounds like an automatic choke, if you never move the choke lever you are not choking it manually , unless its automatic and as it warms up the choke turns off. Is it an aftermarket ot OEM carb. Not sure about the jet 145 seems large for a 300. Whats is installed in it now. 

Thats strange it looks like the lock ring just slides to the left, you might try wetting it down good with WD 40 and look around for a screw or a locking tab that might be holding it in place. Also try pushing on the tabs at the same time, sometimes it will bind by just pushing on one. 

Ran across this may help:

https://www.manualslib.com/manual/991040/Kazuma-Falcon-150.html

Looks like a a couple of fun projects, not really familiar with either, hope the parts are available, the falcon looks familiar, i might have seen one of those once, They are interesting looking, have fun.

Quite a bit of oil is not good, looks can be deceiving sometimes, maybe oilier at the bottom not showing in the photo. From what i see in the photo the side cover gasket might have failed, you can try checking the bolts to make sure they are torqued correctly , dont overtorque they will break, i know from expierience, but you could check them to make sure they have not loosened over the years and hope that does it.

Loosen the lock ring it should just lift straight out, you may have to tilt it a little to get the float arm out and as new as it is i bet it will be very clean, but that doesnt mean the electronics havent gone bad.

This is so new i would suspect a loose wire going to the sending unit.

👍 Agreed but dont go too deeep with it or you will have to get it back out.

As Mech said it doent look bad, there is a seal under the flage but it looks like it is higher than that, so mayybe oil spillage at some point, i would also suggest cleaning it up and watching it closely.

Welcome! Good place to learn.

Steaming to me means there is aa leak in the cooling system somewhere letting the steam escape, not sure if the fan would keep that from happening, i would try running the fan directly from the battery and see if it keeps it cool enough and prevent the light from coming on and steaming.

If its been sitting for a while the compression may come back a little the more you run it, it could also have some carbon deposites on the valves not letting them close all the way. If you have been running it regular and it just started its probably the rings getting worn.

Yeah these used exhausts on ebay arent worth what they are asking, they are used and at that age will probably burn out also, i wont pay more than 100 for a used exhaust system, you should be able to find something new to piece together a descent system. I like the older bikes too good luck!

20 minutes or 20 seconds, if it takes that long i think there is something wrong with fuel delivery.