Red light I have the same problem when warming the bike the red light stays on...My guess is the oil may need changing other than that is there anything else I should be worried about

Question edited for clarity, correct spelling of maker and typos.
Question moved from Televisions category.

You need professional service. It is computer controlled.

https://www.google.com/search?q=schwinn+220+red+light

..

You have to manually reset the oil change tripmeter and the oil change indicator after changing the oil.

However the intermittent nature of the oil warning may also indicate that the oil sensor system is faulty.

The oil light tells you when it has no or low oil pressure. Most often this is simply when the engine is not running as it needs to be running to create oil pressure. The bike not starting is not related to this light. Not starting when it is warm is often an ignition (spark) issue so you need to look at when it last had a tuneup and new spark plug.

First of all , change your oil pressure sender . It should be easy to do and relatively inexpensive. See if that fixes the oil light going on and off. If the light stays on after that , turn off the bike and replace the oil pump. If you have a bad oil pump and continued to drive the bike , you may have caused serious damage to the motor and may end up having to disassemble the engine to determine the cause of the knock.

Check oil when bike is cold...... here is the best procedure.

Ride bike (and enjoy)
Park bike on side stand, let sit for at least 10 minutes or overnight. (lets oil drain out of cooler into sump)
Put bike on center stand. Bike should be on level ground
Check oil level in window on lower LHS of engine.
Level should be anywhere inside of red circle in sight glass.
DO NOT OVERFILL let level get down to lower edge of red circle before adding oil

Good Luck!

It should be right to go...unless something broke, no oil will get into anything it shouldn't.
The presence of the light is model specific(?) and may simply indicate that no oil pressure is evident (engine cold/not running) or oil is not present on sensor due to fall angle. Have you checked the fuses? They may have "roll over" cut-out or low oil level fuse.

Start cycle at idle only at let warm slightly, turn off and recheck oil. Repeat till satisfied no "new" sounds or change of oil color is evident. Increase revs when happy. Cheers.

It seems the oil pump is weak. Do an oil and filter change now and every 3000-4000 miles useing only good quality oil.I would guess this engine has high miles.
If you want the light to stay out get a new high volume pump.But I would not worry about it.Just keep the oil and filter changed.

I have been told this is the "dealer mode" and it might clear if you the bike off then turn the key back to the on position, but don't start the bike, turn it off then start the bike. this is supposed to reset the FI light.

To find out why it has brought this light up in the first place might require you actually taking it to a dealer, but there are lots of forums and info on this bike on the web

http://www.bugmanweb.com/gsxr/gsxrindex.html

I will guess that your bike cut off when you put it in gear because you still had the kickstand down. That is normal, it is a safety feature to keep you from riding away with it down and crashing when you make a left turn and the kickstand hits the ground.

To check your oil you have a sight glass. Stand the bike straight up and down and have someone look in the sight glass, it is probably on the lower part of the bike on the right side. The oil level should be above the middle, but not covering the whole glass.

Try this process. Go out to the bike, turn on the key and put it in neutral. Check your kill switch, make sure that is in the run position. Now try and start the bike and report back with what happens.
Does it turn over but won't start?
Does it refuse to turn over?
Do the lights come on the instrument cluster for a few seconds, then go out except for the low oil pressure light (normal for that to stay on unless the bike is running.