Chrysler Repair: 89 TC Chrysler Maserati - starts but has no power, tail pipe, maserati

Question
I've inherited an '89 TC Maserati that starts up but has no power, moves very slowly.  I've been told that the engine has been rebuilt in the last couple of years, but it smoke came out of the tail pipe after letting it run for about 10 minutes.  I don't have a lot of money to put into it, and I can't seem to find an expert over here that can really diagnose it.  I was hoping it was a "diamond in the rough", but I may have to just sell it instead.

Answer
Hi Jesse,
What color is the smoke? Black, blue, or white?
Try to get fault codes using the ingition key:"on-off-on-off-on and leave on" doing that in 5 seconds or less elapsed time. Then watch the 'power loss' light which remains 'on', to see it begin to flash, pause, flash, etc. Count the number of flashes before each pause. Then repeat the process to be sure of an accurate set of flash counts. Then write me back with the counts, in order of appearance.
Roland