Hey guys, just wanted to say thank you for all the suggestions. I ended up pulling the original carb off, moved the c-clip up one position, and re-attached it with an ample amount of plumbers tape. The air leak seems to have disappeared. I'm still doing some minor tweaks, but the bike is running the best it ever has.
On a second note, any recommendations on replacement fuel lines? When messing with the carb I realized mine is pretty fragile and could see it cracking at any moment. I had some for a small engine, but it was the small size. I see a lot on Amazon, but don't want to get the wrong size again.
Lastly, I feel like this is a stupid question, but don't mind making a fool of myself...My throttle cable seems like it's a bit too long. I've had to unscrew the parts from both the handle, as well into the carburetor to their furthest-most positions to allow them to give a full pull of the throttle. Is there a way to adjust the cable other than these two points?