I was given a neglected zero turn mower that had been used regularly for the past several years. After charging the battery I started it up and let it idle for a few minutes before trying to move. I did notice that it seemed to be smoking a bit and once I increased the speed, the engine blows a lot of oil and white smoke out of the exhaust. It then quit running. I can get it to start with difficulty after this but it only runs for 5-6 seconds and then quits again. There seems to be fuel (and maybe some oil) leaking from the carb area.

Is this a major problem and should I look for another mower/engine?