Hi,
I am from the UK and have the almost the same fault
I run the generator and when I first start it, green light is on then goes onto red overload and pulls the revs down
if you take the inverter cover off you might feel it hot in one place and you can also disconnect the blue socket
and just run it on 12v to try it you should see a diffrence.
I am sure you have nothing wrong with the engine but its worth checking the
float valve it could be trying to flood the carb but manages to keep going when its cleared.
if you happen to find any iverters for mine please let me know.
Les