Ok, when I went out to get on the bike I let it idle for a minute and the temp was about 105F. I wacked the throttle hard and and I am pretty sure it is oil smoke. It is also running rich because there is some black mixed into it as well. After wacking it a few times it seemed like the smoke was clearing up a bit. It does appear to clear up rather quickly after the initial wack on the throttle.
I have been riding this bike very conservatively. Most of the time is spent below 5k rpms and often it's below 4k rpms. Will that make a difference?
Perhaps my "deal" (got the bike for $4000) wasn't such a deal after all?
I like the idea of a compression check. It will probably have to wait a bit since I live in an apartment. I am currently looking for a house and may have found one... may make an offer tomorrow. Then I will have a proper garage to tinker with this thing.
I do smell coolant once it warms up. I am not sure where it is coming from. It could be the exhaust, but I am not certain. It looks like the overflow tank may have a small leak in it and coolant may be seeping out.
Thanks for the replies guys.
If the compression check is bad, what then?
Rebuild the engine?
Could the rings be shot at only 12,500 miles?
Is there something that could be plugged that would cause it to suck oil down the valve guides or something similar?