The battery had a ground strap that ran from the battery to a bolt in the frame just behind the battery. Just behind the battery is a frame cross member. On the flat verticle side of this is cross member is were the ground bolts too.
Hot side went through a hole down to starter relay.
If it sparks good with the battery hooked to the coil is a good start.
Using your multi-meter on the 20 volt DC range. Touch the black lead to ground, touch the red lead to the red wire, actually it's red with a white tracer, If you don't get a reading near battery voltage you will need to trace this wire back toward the battery. You need a diagram for your bike.
Following the diagram the red/white wire goes up and splits, one way goes to the side stand relay. Just unplug this relay. It grounds the R/W wire to kill ignition.
Another way goes to the TCI box. The third way goes up to another split, one to safety/headlight relay, the other to the engine stop switch, often a place the power stops, dirty contacts inside, can be taken apart and cleaned. From the engine stop switch it goes up to the ignition fuse, another place power can stop, weak clips that hold the fuse, From there it goes on the brown wire to the key switch, another place with dirty contacts, it to can be taken apart and cleaned. From the switch to the main fuse and to battery positive.
This is the general procedure for back tracing any circuit. You can also forward trace by starting at the batter and flowing the wires.
Good hunting.
Leo