I got my 79 CB750L for $500. It had some issues, but ran well until it ate itself up after breaking the long cam chain. My '84 Shadow cost me $650. Both didn't run well when I got them, but after some sweat and chemicals and some cash, they got better, thanks to the helping people on this forum.
You should feel little puffs from the exhaust pipe when the engine is cranked. That says you've got good compression, and means the rings and valvetrain are probably OK.
If you can get it to start at all, even a few pops and wheezes, that's a plus. That says your ignition and timing are probably close, and there's some gas getting to the cylinders.
A "tune up" in my mind includes:
New or cleaned spark plugs
New points (if applicable) or cleaned points if they're fairly new
Carburetor adjustment if the engine runs at all
Timing check (static and dynamic-Involves timing light and dwell meter)
Cam chain(s) adjustment
Oil change if due
Battery water level check
A more involved "tune up" in my mind should include:
Adjustment of cables for throttle, clutch, and brake and check of brake cylinders
Check of screens in tank/petcock or external fuel filter
Electrical system check for charging and battery health
Valve lash check/adjustment
I'm sure if it's been sitting a while, there's a fair amount of gunk in the carbs, and will need a good disassembly and cleaning. There are MANY posts regarding this. Get the Factory Service Manual on our home page, and use the SEARCH bar to look for other postings.
I hope this helps. Keep us in the loop, and we'll try to help more.
Luke M
Used to have a 1979 CB750L, sold it as a parts bike, now riding a slightly modified 1984 VT700C. Network/Field Engineer. Central OH, USA, Earth, Sol System, Milky Way Galaxy, Universe.