Check the start injector time s/w (cold start timing switch) and cold start injector.
Start injector time s/w is located on a neck that bolts to the right side of the cylinder head. The upper radiator hose goes into it.
Cold start injector is located on the intake manifold. Its in the middle right underneath where it says EFI.
Cold start injector
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2-1: 12 volts while start injector time s/w is closed and starter cranking.
Start injector time s/w
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Points open above 35C (95F).
2-1: Approx. 20 - 40 ohms below 30C (86F).
2-1: Approx. 40 - 60 ohms above 40C (104F).
2-ground: Approx. 20 - 80 ohms
2-1 means pin 2 to pin 1 on the sensor.
2-ground means pin 2 to ground on the sensor.
All measurements are taken at the sensor.
My bet is on the start injector time s/w.