Bought a new to me gen 1 possibly running rich

Hey guys, just probing brains of the willing. I got a new me gen 1. It has a clear title but is was thoroughly wrecked. Still a good running and riding bike, the forks are slightly out of true and that is the worst of it. Although it seems to run rich, maybe because its burning Earl through the valve seals and rings, it has 43k on it and I know I should expect more, but the oil on the plugs bothered me (on one cylinder bad, two a little, and one plug had no oil but it's was a little dark thus why I believe it's running rich unless the carbs are out of sync, could it just have been because the PO overfilled the oil? (Filled it on the sides and as the centers and was broken off the wreck) also the bike has an egr AIS? I have a tap kit myself and lots of vacuum hose fittings etc. So I wanted to make my own delete and crossover manifold, and then sync the carbs with a diy manometer. Would it be worth it? (Tiny bit of white smoke coming out revving in nuetral) bike starts without enriched and the enrichener quickly kills the bike. Or should I just wait and eventually do valves , seals, and a cylinder hone.

Ideally I want to spend an afternoon or maybe an evening too getting this bike set to give me as much as I long as I can before having to park it without compromising the longevity of the bike
 
Hello Shawn and welcome. It's kind of hard to say whether or not to go ahead and try and fix the issues. Do you know if the bike was ever jetted or modded in any way? The Gen1 was always a little on the rich side, at least mine was. Before I did any AIS removal or stuff like that, I'd first empty all the fluids from the motor, oil and coolant. Then I'd change the plugs for new OEM ones. Don't waste money on aftermarket plugs until you know for sure the bike is worth fixing. Also, check your air filter and replace it if necessary. New oil and filter and new coolant should get you to the point to see whether it's worth fixing. White smoke from the exhaust could just be stuff burning off dirty or fouled plugs rather than valve seals or rings. Remember that I think the engine block also has some coolant plugs that will enable you to empty the block completely. Start fresh and see where you are at that point. Let us know how it goes.
 
Update

Update, so yesterday I put it factory NGK plugs, changed the oil and coolant, (very dark and lots of clutch material but no glitter so I'm optimistic) the air filter was almost new looking so I just blew it out and reinstalled. Majority of the smoke disappeared, the plugs I pulled out were factory NGK gap .025 instead of the much larger gap Yamaha specs I used a slightly smaller gap .05 as I dont plan on running it at the upper end of its capabilities and it worked wonders, stumble went away as with most of the smoke although some is still present in very small quantities but it's undetectable after warm-up and ride.
Perhaps it may be worth a carb sync? I don't hear any crazy valve train noise , although I have no idea what the service record is like especially considering the PO overfilled the oil. Bike didn't hang up on high rpm today either
 
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