Volvo Repair: Grey Smoke, check oil level, headgasket

Question
Just bought a 1995 850 Turbo...it was smoking blue/black smoke.  When I got it home, it's smoking a steady stream of greyish smoke. When I cut it off, it wouldn't start up again immediately...waited about 1 hour, and it started. Seems to run fine with good pick-up, but steady greyish smoke. I've been told that it may be a fuel problem (something being put in the gas tank), or that it's a head, block problem.  Any ideas?

Answer
Zach, It can be a number of things.  Check oil level.  It may be overfull.  It also may be a headgasket.  The no start issue may be a fuel issue.  Check all the rubber turbo hoses for holes.  Anything else would have to be checked out by a Volvo shop.  Roger