My goodness I just saw your post and I see it has been around since Dec 2010. Your post appeared after I answered a much newer post. (site operates in this manner)
Anyway if you have a 1986 generator and you have 12V DC to the starter with the key on the most likely problem is the brushes in the starter PN: 31215-ZE2-003 or 31215ZR2003
http://ssl.jackssmallengines.com/jacks-checkout/shopping-cart.aspx?CFID=179837&CFTOKEN=92541317
The only problem I have is that I do not know if this is a set or an individual brush. Use the toll free phone number on the link above to confirm quantity.
Once you have the starter removed use some 220 grit or above sand paper and clean up the copper contacts on the starter armature and lubricate the bearings.
If you do a continuity test of the armature using the copper contacts your meter leads must be exactly 180 deg from each other (opposing) to get a resistance reading.
Reading out the stator winding is a matter of reading the + lead terminal to the case.
Thanks for choosing FixYa,
Kelly