drain the oil, fill it up including the cylinders with oil. turn it over using either the crank start or a crow bar, just a little per day. after a few rotations drain and fill it with oil and marvel mystery oil. let it sit till spring, but you need to make sure it full to the top.
spring time drain oil put a quart of marvel and normal oil in then start it, let it get to temp, shut it off, drain oil fill, run it for a few days change oil.
that is the directions i got from moyer when i fixed a flooded and rusted solid engine, it took days to get it to go thru a full rotation, once it broke loose it spun fine. once in the water it was drained and refilled ran real smokey for a bit, needed new spark plugs too.
as for the starter, pull it off dunk it in a gallon of denatured alcohol. then take it for a check out. as for the alt they are cheap enough to replace