Plug caps are easy and cheap enough to change (if thats your problem) I change mine every year or so just for the hell of it, might as well change them anyway.
If it's a new to you bike, the first thing you need to do is clean carbs, verify and record jets and needle position, don't take somebodys word for it. While carbs are off do a leakdown for peace of mind and check compression. All this info should be wrote down so you can remember.
If carbs check out, the list could go on and on as to what your problem may be. Pull your stator cover off and as Weave said check if you have timing, if so write this down as well, set pickup gap to both flywheel nubs while your in there. This is just the basics that need done on a "new to you bike"
Post your elevation and riding temps as well. If you don't own a Clymers, that should be your first purchase. OHM all electrical per manual specs. It's not uncommon for a stator to crap out and break up at certain RPM's.
Tricked has a nice list he may be nice enough to post for you, (or you can do a google search) Pretty much covers everything.