Well it turns out the water pump gaskets were blown out.

I replaced all the water pump gaskets. The bearing was still good.   Fired it up and seen exhaust coming out of the bottom of the jug. Guess the gasket is blown out.  New gaskets from Cometic will be here monday.  Hopefully be the last of the issues and I'll be able to ride it now. I do need to buy a new air filter.  The carb has been cleaned and doesn't leak. I want to buy new fuel line as this one is kinda brittle.  Need to do the bump steer mod as well.