Any suggestions on how to troubleshoot this? The spark plug is good.Thanks!!

does it have points and a condenser, if so, that's where i would start

Check the flywheel magnets and clean them up also while the flywheel is off.

You have 1: A coil, 2: A magnet in the flywheel, 3: A set of points, 4: A condenser, 5: A spark plug wire, 6: A spark plug. One of those is a moving part: the points. Make sure they're not corroded and are set correctly. Lube the rub spot where the points contact the ignition cam. If it has been sitting a while, the condenser MAY be bad. The plug wire may be bad, also. Check all the parts and you'll find the problem. The magnet in the flywheel passes the coil and builds up a "charge" in the coil and condenser. The plug should fire when the points "break".

For the long haul, replacing the points and condenser with a solid-state ignition sensor ( about $15) will make a very reliable ignition system. It worked on my 1961 Johnson!

A guy gave me one of those 2 HP's in Venezuela. My friend there called it a "liquidora". Blender!

Island Jim

Start by cleaning and gapping the points. While you have access, that is also the time to check that the points are not shorted to ground when open. Could also be the coil - easy to check with a voltmeter, but you need the specifications for that particular coil. As stated above, a solid state ignition sensor can fix some of these issues, but it not necessary for the motor to run properly for years to come.

There are lots of youtube videos on how to do this. Just search for lawnmower point ignition.

Well I couldn't even get the flywheel off - any secrets I need to know? rb7764, would you be willing check/repair my ignition and fuel systems? If not, do you know a Fort Worth repair shop that could?

Mechanically everything is good - I checked all that last year. I really don't know anything about the ignition system.

A flywheel puller will definitely help! I would be happy to look at it if you want to drive out to Frisco one Friday afternoon. Shoot me a PM sometime. Just need to plan a little to make sure I am in town and have a few hours to spare. Not a problem though.

I'm not familiar with any shops in Tarrant County.

I appreciate the offer. I happen to be coming your way today - Granddaughter's birthday party. Let me know if is OK to drop off the motor with some cash for parts/labor. My name is David and you can call/text me on my cell at 817.781.9159. Thanks in advance!!