I guess it could be lots of things on a refurb’d engine. Assuming it’s all in order, when setting the valve gaps you’re definitely starting on #1 when pulley is a TDC and the piston is at the top of the cylinder? I always work from #1 turning the pulley anti-clockwise 180deg to #2, then again to 3 then 4. Just a thought. Hope you get it sorted!