Motorcycle Repair: yz400f

Question
My buddy just picked up a Yz400f for free and after inspection we noticed water in the oil and he said its getting coolant in the exhaust, would this be the water pump seal?  Its also blowing out alot of smoke from the oil overflow hose like its burning oil.  any ideas?

Answer
Ryan, You are right. Its the water pump seal allowing the water to contaminate the oil. Also you might check the brg area on the water pump shaft as it may be allowing the shaft to move around and leak. Also these models have a lot of blow by but the water may be washing the oil away from the rings.