Interesting project.
Me I'd drain the old oil and fill it back up with some cheap motorcycle suitable 10w40 (you'll replace this again once it's run a bit) change the oil filter. Drain it cold before turning over the engine at all - I'd drop the dain plug and let it drain over night.
Side note - there is a school of thought that all oil changes should be done this way as any particles (ie metal) in the oil will naturally settle to the lowest point in the cold oil. Who knows - another internet debate.
Drain the carbs - if horrid stuff comes out they will most likely need a strip and clean. You can purchase produce you squirt into the airbox when running that claims to clean them. Seafoam springs to mind and Yamaha made a carb cleaner years back that had a good rep. Allow for a proper strip down though. Check the air filter too - it may be slowly falling apart - you don't want than shit in your carbs.
Anyway don't pull them apart yet.
Clean out the tank - flush with fresh fuel - again what comes out? If it's rusty there is a issue for later ....
Remove plugs - clean or replace
So presuming you have clean oil, drained carbs, fresh fuel, a charged battery I'd fire the beast up.
Bet it runs
If it's rough it's probably the old fuel gummed up in the carbs.
Get the engine running well before spending any money elsewhere.
And when it is change that oil and filter again.
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