Even with such low miles, old 2-strokes often have other issues, such as crankcase seals that need replacement to ensure proper crankcase compression on the down stroke. Replacing those seals requires a complete engine tear-down. The reed valve probably needs attention (or inspection), too.
Since it's been idle for decades, I wouldn't trust the oil injection but would start with pre-mix fuel until the oil injection system is proven to work. There are lots of 2-stroke guys on the vjmog.com site that would have good advice.
That bike is getting hard to find, and parts are scarce, but there are guys that live and breathe these old 2 stokes that would love to start a project with that 194 mile bike.
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