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After a long period of being laid up – about 12 years – I decided to have one last look at my old K75. The motorcycle dates from 1986 and has about 66 000 miles on the clock. (I am a lot older and have clocked up a greater mileage). Firstly to bear witness to the wonders of the K series. After cleaning repairing mouse damage to wiring – cleaning plugs etc after adding petrol the machine started on the second attempt. Here follows the need to pick some brains! After starting any attempt to increase revs cut the engine – after about 3 or 4 minutes of running the yard filled with white exhaust fumes (with a rather acrid smell I have never smelt before coming out of an exhaust) . One last thing I noticed a trace of oil on the plugs – oil seeping down the valve stems? The problem one of time and money, I can see that I could be on the edge of a financial and time black hole. What I need is a logical step by step approach before taking drastic action.
Does this sound reasonable?
Clean out fuel tank and replace petrol filter – the tank had been drained but when I drained it after its test run what came out didn’t smell like petrol! Visually the tank has no sign of corrosion but I suspect plenty of sticky goo.
Which leads to cleaning carbs etc.
At this point change oil and try again and reassess the situation.
Your comments would be more than welcome – before buying another machine I would like to give this one a chance!
Tegid
 

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Really a crapshoot whether it will work out for you or not. We don't know enough at this point. You have little to lose if you are mostly expending your own time; if it comes to throwing in pots of dough you may be better off passing it to someone with more enthusiasm than brains.

What would the bike be worth I. Good running order? That's your spending limit.
 

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Large amounts of white smoke and an acrid smell would indicate antifreeze getting into the combustion chambers. New head gasket at a minimum, cracked head/block worse case..
 

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A bike that was put away in running condition would not have a cracked block. I have seen cylinder heads corrode past head gaskets after prolonged non-use. Pull the head, and see what you have. I your future may become abundantly clear.
 

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PsyKotic Waterfowl
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I've brought a few Ks "back from the dead" in my day. Let it run for a while (20-30 minutes) and the white smoke should go away.

K bikes generally don't like to sit and idle so that may foul the plugs a bit but once you're sure the brakes and tires are good then take it out and ride it like you stole it.

As an 86, it will have the "old" rings that let more oil seep past them if parked on the side stand. This is normal so don't worry if it smokes on startup after being left on the side stand.
 
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