I know its frustrating, but it is rare that these engines start on the first attempt.
"Some suggestions on your first startup Raphael when you get your engine:
Use the factory settings; the carb needle should be around 1 turn open. After it warms up you can close it a bit to around 7/8th turn closed.
Use a pulley and rope starter if you have one. I actually have never been able to start my engine by hand flipping the flywheels.
Preheat the engine cylinder head with a hair dryer and hot water in the hopper."
Also your fuel tank may be too low. Set it at the same level as the bottom of the engine.
That was a good test of your ignition. Did you notice if it fired at around top dead center? And always be sure you ground the spark plug wire or connect it to the spark plug. If it is not connected to something when it fires, it over stresses the ignition circuit and can destroy it. Good luck!