Given you got it for $200, imo, it would be premature to discard it for parts.
If it were me, I would change ALL filters and ALL liquids before trying to get the engine to run. Use a spare car battery or buy one from Costco (cheap). Worst case scenario, you will have to take the carb apart and clean it very carefully. I had to do that with a Honda lawnmower (damn Honda carbs! - more sensitive than a woman :O ).
I think the first step is finding out if the engine is OK. Don't forget to check the cranckase breather hose (I think it has one???). If not, sell it for parts. If the engine is fine, then you can look into what it will cost to get it in top shape. Just my 2 non-professional cents