sounds like percolation ... or
carb puking.. first thing, make sure your float valve is closing and float level is set correctly... if it only does it when the engine is hot... then you've probably got carb puking.. BUT MAKE SURE FLOAT LEVEL IS CORRECT AND CLOSING COMPLETELY...
CARB PUKING: the gas boils in the float bowl, our carb sits between the cylinders and get hot.. gas boils at about 150F degrees lower temps at higher altitudes and lower temps with higher ethanol levels (as is used in winter to prevent fuel line freeze up in cars)... doesn't take us much to get the float bowl hot enough to boil gas...
as the gas boils, it pours liquid gas out of the overflow (a high port on the outside left of the carb that attaches to the back of the stock air box)... as the gas boils out of the carb it pushes the fuel level down and the floats drop opening the float valve, this allows in fresh fuel which is why your pump continues to pump... on a gravity system this wouldn't cause to much of a problem... because the pressure of the boiling gas would slow down (but not stop) the fuel from pouring in... causing a vapor lock ... but we've got a pump behind it which pushes the fuel into the bowl, and out the overflow... right onto the engine and hot pipes
the reason the bike will only start wide open is because the gas is pouring out of the jet and by opening the slide you're allowing the mix to add more air keeping it from flooding the engine...
1. potential fixes... extend the over flow from behind the air box to below the engine...doesn't fix but prevents fuel from being vaporized on the pipes and vaporized fuel is VERY flammable and can be ignited by a backfiring engine (a flooding engine can backfire) and with gas all over the back of your carb and engine... this can be a bad situation... don't ask how I know...
2. open air flow around carb between cylinders ie... removing pump on back side of engine.. changing to a smaller air box from stock (I don't know empirically if this will work but makes sense to me)
3. allow bike to cool down before shutting down by allowing it to idle for 5 min (old biker trick... a revving engine gets very hot... an engine at idle will actually cool down from it's running temp)
4. turn off gas before turning off engine and don't turn on gas until you're moving... (a bit cumbersome especially turning on the gas while moving) theory is gas is cool and will cool down the bowl of the carb but the gas has to be moving if it sits ... it gets hot... and turning on the gas after moving allows air to start moving around the engine and cools the carb.
5. allow the engine to cool completely before restarting.. >20 min
6. don't shut off bike if only stopping for a few minutes.
LASTLY: how to know when your percolating?
1 turn on the key and fuel pump continues to click...
2 smell of vaporized gas ... seeing gas pour from behind carb
3 engine may stall and you will hear pump continue to click
WHAT TO DO:
turn off key (don't try to restart right away)
turn off gas
allow hot gas to dry
turn on key and attempt to start
if runs get moving and turn on gas
if won't start you may need to allow fuel to fill bowl
turn on key, turn on gas, turn off gas after second or two. make sure no gas is collected on engine. attempt to start you may have to open throttle wide open just like when starting an old engine and you flooded it...
if that doesn't work.. go get some lunch... try again in 20 - 30 minutes
~Guido