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Do a compression test on #3 (then the rest) first to see if it's a dropped valve (I've had several with this issue) otherwise it could be a weeping headgasket between 3 and 4 or cracked cylinder head. Could also be a bad intake valve guide moving with the valve. Carbs on these love to clog up (I cross #1 and #3 plug wires with the extra coil disconnected so it will backfire and clear out the jets)
Do a compression test on #3 (then the rest) first to see if it's a dropped valve (I've had several with this issue) otherwise it could be a weeping headgasket between 3 and 4 or cracked cylinder head. Could also be a bad intake valve guide moving with the valve.
Carbs on these love to clog up (I cross #1 and #3 plug wires with the extra coil disconnected so it will backfire and clear out the jets)