This is not an all-inclusive list so anyone else please feel free to add to it.
Step 1. Check the fuel tank. If it has fuel in it, then drain and clean the fuel tank and lines thoroughly.
Step 2. Remove or loosen the rocker arm assembly and check that none of the valves are stuck open. Tapping on the tops of the valves and seeing the valves return back to their closed positions is also recommended. Check that all the pushrods are in place and none are bent.
Step 3. Remove the spark plugs and shoot a couple of ounces of ATF into each cylinder. Use only a lightweight oil for this and not engine oil. Let this sit for awhile and then hook up pressurized air (85-125psi) to each cylinder and force that oil into the ring land cavities. If necessary, put more oil into the cylinders and repeat the process.
Step 4. Once the engine is rotating, then reinstall the valve train and check the tappet/lash settings. Then get into the distributor and check that the points are usable. Install a new point set if the old points look to be corroded. Spin the engine over and check that you have fire from the distributor cap end of the coil wire. Install a new set of properly gapped spark plugs at this point.
Step 5. Assuming you’ve got the fuel system sorted out earlier and it’s hooked up with fresh fuel available, then the engine has spun over enough at this point you shoud have fuel at the carb. If you see fuel seepage at the carb, it likely needs to be rebuilt. Assuming the carburetor is in a runable condition, try to start the engine.
Lorena, Texas (South of Waco)