I have several OS 46FX motors which should be very similar. If the motor won't run and keeps on flooding, the low speed (idle) mixture may be set too rich. The factory seems to always set this on the "very rich" side which is good for break-in but sometimes it is just too much. The adjustment screw is located at the end of the throttle shaft on the oposite side from the throttle lever. You actually have to look into the end of the shaft to see it. Get a jewelers screwdriver and try turning it in (to the right) about 1/8 of a turn and try again. If it still won't run and floods then go to 1/4 turn. This is a very sensitive adjustment so be careful. It would be best to get someone experienced to do it for you if possible. Once the motor starts this screw will probably have to be adjusted further or the motor will stumble and/or want to quit when you try to go to full throttle.

The good news is that the OS FX non-ringed motors need very little break-in. I run one tank at a very rich setting, alternating between 2 and 4-cycle operation per the manual. Then set the mixtures a little rich and the motor should be ready to fly. (This isn't true for other motors, as I recently found out with a new Saito).