Thanks for the quick replies, guys, this is the motor:
It is on the truck for delivery today and fedex usually gets here around 2:30. I had already mixed the 1:16 gas, but if 1:24 is better I can dilute it a bit, but I can't get new gas because my budget is $5 for the next week. I am looking for a new fuel line and a new spark plug cord at a local lawn mower scrap yard. You never know what you will find and they will give it to me for free. I will post some pics later today or tomorrow. So rinsing the gas tank with water and letting it dry for a few hours to save gas won't hurt it?