I agree with Stargate. You say you have only had it 1 day though.
If the previous owner left it standing for a while without draining the petrol out of the float bowls the float valves gum up, but that normally results in flooding. The symptoms of which are a choking and cutting out engine and sometimes fuel in the oil.
To check if flooding is the problem turn the fuel tap on and start the bike then after 15 seconds turn it off for a minute then on for 15 seconds and just keep repeating. You might have to adjust the on/off frequency times a bit but if the bike can run indefinitely without cutitng out doing that then you know it's flooding and you need to sort the float valves.
Because it's filling up your airbox firstly I'd check that that the previous owner hasn't mixed up the smaller diameter pipes on the carbs. 3 are breathers and 1 is the vacuum feed for the fuel tap (petcock). If you pull the petrol tank, turn it 180 degrees and sit it on some steps or w.h.y. next to the bike it can still run and you can get to the pipes to disconnect them 1 at a time and it's easy enough to tell which one is sucking air when the engine is running.
Also inside the fuel tap there is a small diaphragm which can perish allowing petrol to get sucked into the air system. Normally there are 2 small screws on the tap which allow you to strip it and check. Make sure you get the gasket with the diaphragm if it is that.
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