So I realize it has been a couple of months since I posted but I wanted to post the outcome on this problem. The problem was indeed gunk in the carb. Specifically the inner lining of the gas line between the pump and the filter began to break down. I tried to clean out and soak the carb but that didn't work. So I found a cheap carb on ebay (65$) which is quite a bit less than than the list price ($315) on parts tree. It worked great for one hour then the carb motor began to do the same thing. I took the new carb off and noticed the rubber chuncks/flakes in the float valve/assembly, realized what it was. I replaced the rest of the gas line, cleaned the new carb out, has worked great ever since. I'm assuming there is probably a product that would breakdown the rubber flakes if I soaked the old carb, but if not I have a back-up carb if I need it for parts now.
BTW thanks for the help!