Those single cylinder Yanmar diesels have got to be hands down the toughest stationary engine ever built. I have traffic control arrow boards at work that run them. When they are cold, they smoke like crazy and take a minute or two to smooth out. I'd just change the oil, clean and service the air filter if it's an oil bath, and light it up. If it doesn't start, there is a lever on the head that lifts the exhaust valve to shut it off. Sometimes they will stick and all you have to do is move it back to the run position.
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