Motorcycle Repair: SMOKE COMING FROM MY TAILPIPE, head gasket leak, katana 600

Question
I recently bought a katana 600 and had my carbs done cleaned etc it has been sitting up for at least 18 months and there is smoke coming out of my tailpipe and my exhaust pipe stays wet with oil but it looks too thin to be oil.

Answer
Fred,

-have you taken the bike for a long run yet,
could just be condensation burning off
the pipes.

-Did you change the fuel
or is it burning old gas? Gas goes bad quickly.

-valve seals may have gotten brittle, try
running it awhile and see if it improves.
If not, the seals may need to be replaced.

-rings may be stuck in piston, again try
some additive like seafoam and see
if it improves.

-likely you have some oil and some water
from condensation mixing to make the thin oily
substance.

-if it was liquid cooled, could be a head gasket leak.