Log splitter pull start stuck!

I have a B&S Quantum XE 6.0 ( engine # 123K02-0238-E1 04081157 ) Model # 24AF55CC729 427385 WITH SERIAL # 1H154H50023.

Ok, so I brought it down to split some wood and set it up, checked fluids and then started it. I let it run for say...2 mins....as I took a seat on a log to begin splitting, it started smoking! So I turned it off and checked it out. The oil dipstick was oiled from top to bottom. So I wiped it off and checked again and it was still all over the place.
Needless to say, I didn't split any wood yesterday. I just let it sit. I found this site last night after I looked up some B&S Q&A's and found this to be a better place to get answers.
Anyway, I went out this morning and pulled the plug. GROSS! I pulled the cord and it was good but black (oil?) came out of the hole? I wiped that all up and put new plug in and tried to pull to star and the pull cord is super hard to pull.....
Long story short.....my question is what do I do now?

0k, I got all your replies and I am working on it now. Everything looks good, other than it being dirty from normal wearing and of course the oil in the cylinder. Can I just blow out the cylinder with air? It won't disturb anything?

Ok, I did that. Just gas comes out now. I put spark plug back in and pulled. It still has some resistance and it wants to jerk it out of my hand. I still haven't gotten it to turn over yet. But at least I have some tug on the pull cord now.

Woohoo! It's running again! I still have residual smoke but it's running! I think I'm going to have to try and put a load on it now and see if I can get some wood split.

Thank you so very much. Your time and help is very much appreciated!