Air, fuel, and spark, compression......yep, any of those could be issue.
Air
a. bad carb
b. Airfilter too restrictive
d Side seals leaking air
d. too much/too little choke.
e. airleak in engine, engine case not sealed properly
f. airleak in intake assembly
g. intake port plugged (base gasket not cut properly..had this happen)
Fuel
a. Oil not mixed properly....don't add oil to fuel tank, it will settle to bottom and flow first to carb.
b. too much oil...for first start use 50:1...less oil starts easier...once engine is running you can add more oil 32:1 AND NOT MORE.
c. Inline fuel filter in petcock clogged from rust/**** in tank
d. main jet plugged
e. main jet in carb loose (happens quite often)
f. Choke setting (air-fuel ratio)
g. Temperature of engine and air too cold (if its below 40 deg outside, engine is much harder to start cause fuel doesn't like to vaporize in cold weather especially if you are running more than 32:1 oil ratio.
h. float height not set properly causing no fuel to fill bowl.
Spark:
a. disconnect kill switch...very common cause of no start in a new build
b. wiring not correct.
c. snip/cut white wire..if it shorts out you won't get spark.
d. OEM connectors suck.....splice, solder, and shrink wrap for best connection...intermittent connection on blue/black wire very common with poor crimp slide on connectors.
e. CDI defective
f. magneto defective or soldered wires to magneto pulled out (poor solder is common issue...I always solder new wires to my mags)
g. Stock plug sucks, many have failed internally.
h. Plug not gapped properly, check gap
i. wire from CDI to plug defective or not connnected properly....check wire continuity with ohm meter
j. Magneto gap not right
k. Magneto magnet weak
l. Poor magneto ground (ensure back of magneto has varnish/rust sanded for good ground continuity
m. not wired correctly
Compression.
a. how could you not know if an engine has compression or not???????? Just because its new doesn't mean it has compression.
b. Rings not sealing or missing (i've had a new engine with a ring missing)
c. Squirt of oil in spark plug hole to help new rings seat a little better.
d. Head gasket leak check
e. base gasket leaking
f. engine case leaking
g. ring shattered by catching a port
You've got a lot of work to do, good luck.