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Recently came to own an 81 F150 300cid. Previous owner had stated the truck was runout of coolant and overheated. Although his daughter kept adding water to keep from overheating too much. Then she also ran it out of gas. Truck then sat for a couple weeks before he even attempted to start it. Now it just cranks and won't fire.
Things I've checked;
Battery, charged fully
Spark plugs, not a strong my spark but still has a slight bluish color
Fuel filter, new
Carb, no obvious signs of sticky jets (fuel sprays normal)
Take a multimeter, put it on the OHMS scale. To test primary resistance, touch red and black to the positive and negative terminals on the coil. It should be around 1.3-1.5 OHMS. To test secondary, take one of the leads and put it in the center (coil output) terminal, and hold the other on one of the other terminals. Secondary resistance should read around 8K OHMS. As far as testing the output of the coil, no idea how with this method. The only way I know how to test coil output is with a Sun engine diagnostics machine, which very few people have.