Is the starter something I should worry about?
No, probably not if the starter is just spinning and not engaging the engine. The centrifugal starter clutch has three rollers on ramps. The roller are pushed into engagement by weak springs on each at low and no RPMs. The grease in there can congeal with age and prevent the starter from engaging. Repeated engine heating might free up the grease. But, until you get it running, use the kick start.
The starter clutch can be cleaned and re-greased to full operation probably. But, on the 550 you have to split the cases to get to it.
Before you try and run the engine, drain and catch the contents of each carb bowl via the bottom bowl drain screws. If there are any "chunks" in there bigger than .016 inch, the slow jets clog and you have to do a partial dismantle to clear them.
Also, if there are chunks, where did they come from, the tank?
You can squirt carb cleaner in the bowl drain hole to flush them if it is not too late already.
IF the slows are already clogged, you'll have to try and start it at 1/2 or more throttle to get gas into the cylinders with full choke. Of course, it will then die with less than 1/3 throttle. Check the head pipe temps to see if they all got some fire. Cold ones are carb issues most likely once you verify the spark plugs are indeed sparking.
You will need a good battery to start the machine. Hi batt voltage= good spark. No batt voltage = no spark.
If it has been garaged all it's life with only 18K miles and never crashed, it's a descent deal at $300. You'll still have to put some money into it, of course, to replace 30 year old rubber bits, etc. Hail damage only effects cosmetics. And, it you are going to cafe it, the cosmetic stuff is going anyway.
Good luck!
