My first build. Need some advice and I have some questions.

I'd suggest that you add a multi-function speedo to your list. A $20 Bell unit from W*lmart could help you avoid a speeding ticket. The various other functions these units offer can be pretty useful as well.

Btw, starting out with a cheap 2 stroke kit mounted on your "rusty Cranbrook" might not be a bad idea. Besides, working on these bikes, cheap or expensive, is half the fun for many of us.

Good luck, keep us posted, and welcome to the forum!