I started it just fine in the morning, when I tried to leave at night the same day it didnt turn on. It just sits there and cranks. Anything you guys to tell me to help me diagnose this and find a solution?
Thanks - Billy

 

Use a plug tester try to see if its an ignition issue and try the wet plug test to see if its a fuel one

 

Put some gas or spray some starting fluid(ether) in the intake and crank it.
If it fires up and then dies............fuel is your issue, listen for fuel pumps('86 might have 2), when key is turned on, fuel pumps should come on for 2 seconds each time key is turned on, but only for 2 seconds.
If your '86 has a carb(some did) then same applies, check for fuel at the carb.

If engine doesn't fire up..........then spark is the issue, TFI ignition systems do have issues as the age, good read here: Ford EEC-IV/TFI-IV Electronic Engine Control Troubleshooting

Print the work sheet and get a Volt/Ohm meter