oil in exhaust and seams like getting to much gas

I recently bought my 85 interceptor 700. I fixed all the spark issues and got it running but it has a few issues.
first issue is it is leaking oil out the exhaust and oil color is now off I am thinking head gasket. or could it be the rings?
next if I start the bike and don't pinch the gas line it wont stay running This has me stumped any ideas would be great.

 

I almost forgot to mention it is spitting oil oil one of those little holes on the right side back head between the fins.

 

Head gasket for sure.

 

Crack in head casting maybe? Head gasket for sure.

The float is stuck. Pinching off the gas line keep it from flooding out. Just clean the carbs while you have them off while pulling the head. Oh. . . find all your parts before you start. That will be the hardest part of the job.

 

Thanks that was what I was thinking. got all the carb parts guess I have to clean better this time, took 9 hours into them once already but the bike did sit since 99 according to the inspection ad guy i got it off.

 

waiting game for gaskets to arrive i guess time to start tearing the engine off.

 

I would wait for the gaskets. Getting the right part for these older machines, even simple things like gaskets, can be an issue.

 

I already have them all ordered just waiting for them to ship, but not going to tear it apart till they get here just get the engine off the bike and on a bench and clean the carbs better.

 

If Mr. New Rider is unaware of a few key points to check before considering carbs might be "clean" enough, he'll need to do it all over again. Sometimes you need to know how a part works to clean it best. Carbs should be bench-tested for leaks, O-rings, bowl gaskets, leaky float needles and proper float levels before installing, saving an r&r later maybe.

[And wait ! Don't our schools still promote correct orthography ? Why pay teachers then ? Seams like our man is to much a ditz!]

 

Stored properly, drained, the # of years sitting shouldn't be a problem for the carbs. Add fuel and go isn't that uncommon on older Hondas stored well.

White corrosion or green filth is the range between, but well-stored carbs won't deteriorate. They like a surface coating of whatever oil-based product you may choose.

 

When I said get it on a bench I was referring to the entire engine so I could tear it apart to change the gaskets. As far as the cleaning of the carbs I've done it many times on different bikes with no issues but don't have power in my garage at the moment to use my compressor to blow out the holes (been waiting on insurance company to replace the garage). luckily should have that solved in a few weeks when the collapsed garage is replaced. I have no idea how the bike was stored though I bought it 3 weeks ago, but by the nests I found not so good lol.