Use alternator timing marks OPPOSITE the crankshaft key put some marker paint on that pad
If you are sure the timing mark is at 26-28 degrees BTDC Then with the pick up plate set middle of adjustment, then put magnet white dot in CW hole above pickup, make white dot on the CW edge of the Cw hole.
plug gap .020 for testing make sure clean and dry
this is retarded a bit and should start easily from an ignition stand point, if engine is mechanically good and carbs are OK.
If it does not start then I would suspect the pickup wires are reversed which retards the the timing 20-30 degrees and it will never run.
but might make it bang/backfire on intake valve just opening ?
then swap the pick up wires
4 kicks each max and it should run. if not, do a compression check 120 psi minimum