it could be so many things, maladjusted valves and an iffy CDI least likely.....
some months ago there was a guy who just like you bought an 86 for cheap, ended up spending 1500$ on it, bike still not running, "discovered" a welded sprocket on the tranny shaft which would require an engine disassembly to sort out and then forever disappeared from the forum... cant blame him!
maybe post some pics to see if it's worth the effort fixing so we can save you form similar fate.
Hope you didnt buy by chance HIS heap of bike
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