Dagger, to begin with: read the Owner's Manual! It is here:
https://www.honda4fun.com/dwnload/Owners-Manual/CB500-K1-Owners-Manual.pdfThe wiring diagram is here:
http://manuals.sohc4.net/cb500/technical_reference/WD500BW.pdfNow to your carbs. No need to pull the carbs
yet. Practically all maintenance can be done with carbs in situ. First diagnose the problem.
If there's leaking caused by overflow, identify which carb(s) is/are peeing.
Therefore you disconnect all 4 overflow tubes. Do this gently! You don't want to damage anything. Open petcock and see
if and which brass pipes(s) pee.
Carb peeing fuel out its overflow pipe, indicates its float needle doesn't close the valve. It can be caused by even a very small particle of dirt between the float needle's tip and the valve or the float itself is hindered in its movement.
1. Tap with the stub end of a screwdiver floatbowl of the suspect carb(s) and hope this will help to get rid of the dirt.
2. If not, close petcock, unscrew the drain plug completely. Now with the drain plug removed, open and close the petcock a few times, to create a flush of fuel that can flush out the dirt between the float needle's tip (that is now down) and the valve.
3. When needed, combine step 2 and 3.
In most cases this does it. Ofcourse you will collect all the fuel - inspect it for dirt or excessive rust - and pour it in your tank again.
In case there's
no flow into the carbbowl, it can indicate to a sticking valve needle. Tapping the carb bowl as described above can help. When the problem reappears, you may want to add a socalled fuel system cleaner additive to the fuel in your tank. It can do wonders.
Then this. CB500s are very sensitive to a correct fuel supply. Standard length of the fuellines is 18 and 30 cm length for models that have the bowltype fuelcock. Later models have a different petcock. They need a length of 17 and 28cm resp. Use the clamp for the routing of the fuelline to the 3 and 4 carb (see pic). Ideal ID is 5,5mm. Abstain from extra inline fuelfilters! They often lead to irregularities.
If all steps above have failed, you will have to remove the floatbowls for further inspection. I can do it with carbs in situ. Some prefer to pull the rack.