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For me, the generator is a power backup – priceless when needed; I’d not be running waste oils through it unless there was no other source of fuel that I could obtain for it in a true emergency.
You're missing a critical point - backfeeding the grid is to be avoided because it could kill someone.
Given the safety precautions they take, it's unlikely it would be a lineman that gets zorched - but you never know. Accidents happen.
Here's an example of something that could happen...
As OPCOM indicates, the $1-2K specials will likely get the job done for short grid interruptions, but if your goal is hurricane or ice storm aftermath for a week or more at a time, there's a good chance there's not going to be a lot of cheap generator left after all that hard running. After...
Concur that condition codes are meaningless. My MEP-017A was sold as 'mixed scrap iron and steel' - with a high lot / sale number that classified it as a scrap sale from GL. All it needed was oil in the crankcase, a battery, and the rust from condensation while in storage cleaned out of the carb...