I'll take it off your hands!
These things are bullet-proof. Check from the fuel tank, there's probably an inline fuel filter. Assuming you've checked its clean as a whistle, move onto the vent. With my Mariner 4hp, there's a vent valve on the fuel tank cap, unscrew it.
The spark, you could extract, dry it off and check the gap. Wire brush it, if it has carbon build up. Check the HT lead to it, that it makes contact with the spark plug.
Finally, assuming there's no safety cord to it, put it past 'start' on the throttle in case you've flooded it and try again. Keep us posted.
Only other thing I can think of is to strip the carb down. Straight forward and one of the things I would do on a 'new engine to me'.