Unless the kart is nearly free and I mean like less than 100 bucks I wouldn’t do it. Not saying you can’t get it running and race with it but it will cost you more in the long run.
Based on the pic it does look like it could be a Margay of the late 90’s however Margays didn’t come in green. Things like wheels, hubs, front and rear bumpers are things you’ll need to “update”. That’s without looking at the mechanics of it, bearings, brakes, seat. All that stuff will add up.
I would steer away from it.
Let me know if you have any specific questions, I’ll be glad to help. Where are you located?