Check the fuel pump one-way valve on the output side. Disconnect the fuel line at the carb inlet and deadhead it into a 1-10 PSI pressure gauge. Start the engine and run it for a few seconds on the fuel in the float bowl. The pressure gauge should read somewhere in the 3-5 PSI range. Shut the engine down.
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The pressure should remain on the gauge for several seconds, maybe as much as 10-15, after shutdown. If it does not, you have a bad output check valve. Change the fuel pump. The inlet check valve can be checked the same way using a vacuum gauge at the fuel tank side of the pump. Vacuum should also stay up for a short time, indicating the inlet check valve is good.