I added a little synthetic 2 stroke oil to the gas, cleaned the petcock, changed the o ring on it, added a shutoff and filter, the tank is rusty inside but I'm sure I can clean it. It did smoke a little but not as bad as expected.
Thanks for the tips, this is my second 2 stroke experience, the other was a mini enduro, the most beat on little bike I ever saw. This one is pristine by comparison.
I got a sweet manual with it so I have a fighting chance.