I picked up an older 2Hp from Little Round out on the cape this past winter.
http://www.striped-bass.com/Stripert...ighlight=motor
After struggling a little to keep it running we tore it down completely and replaced all worn parts and cleaned it all up. Rings, all plastic/rubber parts, all ignition components, waterpump, seals etc were replaced. In general it was all there just had a bunch of hours on it and needed some TLC. This was a great project for the kid because it is very simple and you can explain and show him exactly how an internal combustion engine operates. He asked a lot of good questions in the process. It is hard to show someone how a engine works on today's machines. He was doubtful we could put it back together esp when I took off the crank and 30 needle bearings the size of a piece of rice fell out onto the shop floor, but we managed.
Most parts are available thru a couple places on the west coast that seem to have a lot stock of parts for older motors. The most difficult thing was getting new decals. I couldn't get them anyplace and had trashed the ones on there trying to remove the pull chord/recoil assembly. But thru the Internet I found someone (a women on the west coast) who would make new ones up for me from photos and dimensions I sent her for $30. These were great and are nicer then the originals. Anyway we got her back in service and good for another 20 years
Again, thanks to LittleRound for selling this to me at a reasonable price.