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Join Date: Jul 2006
Location: Kennett Square, PA
Welcome and congrats on your purchase!! That's exciting - lots of 86 owners here, so plenty of company.
For a basic tune-up, I'd do at least the following:
change the oil and filter
change the radiator fluid
change the fuel lines and any other piece of hosing that looks like it might be dry-rotted or cracked - this will include vacuum lines, hoses coming from the air box to the reed valves, anything.
Check your cables and make sure they're in good shape and that you still have room to adjust them out - choke, clutch, two throttle cables, and the cable running to your rear brake
Look at your wiring on the harness and coming off the harness - anything chipped?cracked? split? Burnt? For the former three, you can tape over; for the latter, you should replace.
Check the battery - you'll want a maintenance-free battery as soon as you can afford one. If the one in the bike isn't an MF, then check the fluid levels and make sure it's carrying a full charge
Seafoam the carbs and see how they do - if they're gummy or not running well, you can always pull 'em and repalce gaskets, as needed (since gaskets can dry-rot like hoses).
Clean your air filters - pull off the housing covers, unscrew the filters; if they're foam and in good shape, you can wash them with Dawn, rinse really well, dry them, and then soak them in motor oil - squeeze out the excess so you just have a piece of foam with oil on it, and reinstall. If they're crumbling, replace 'em with new ones.
Off the top of my head, that's all I can think of; I'm sure others will have additional "must dos"!