I would be inclined to look for a fuel problem. As a general rule, electrical components are either good or bad. Not much in between. If something is getting too hot and shutting down, it would not likely restart immediately. It would need to cool down before it would restart.
At the same time, if it has a broken hour meter, warning lights lit, lived outdoors all its life, I would be VERY hesitant about even getting involved with it. Most dealers call those with warning lights a "Christmas tree" and stay away from them.
I would think that there are plenty of other tractors out there with better parts availability, better known brand names, and in a similar price bracket that do not have built in problems. Just my not-so-humble opinion for what it is worth.
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