Second year of ownership of CB750 K4. As far as I know the engine has never been rebuilt. 25K miles.
I get smoke or vapor at idle after the bike is warmed up out of pipes 3 and 4. Not when cold, when I'd expect vapor, but when warm. And it's not always, but probably most rides. It has occurred in warm weather and cooler weather--I'm in Chicago so you get both.
It's in tune and, other than the visible smoke/vapor at warmed up idle, no performance issues at idle or running; good smooth idle and pulls nicely in every gear across the RPM range. I get a little of the gurgle-type backfire on decel in 2d and 3d gears, but thought that was pretty normal.
I think it's vapor because it's colorless (not black or blue) and I don't get anything when I'm actually running, just at warmed up idle (but I'm a rookie). Pulled plug 4 and color is good (no obvious lean or rich condition), I pulled 3 a month or so ago and it was fine. I do not appear to be losing any oil (level has remained stable) though I should take a 100 mile ride before the end of the season just to be sure!

After I shut her down after a ride, I still get some vapor/smoke wafting out of the pipes for a few minutes (again would indicate vapor not combustion) and I get a nice burst of steam if I loosen and remove the oil cap. Is this water condensation in the oil system that is steaming and if so, why is it going out 3 and 4 pipes? I should mention that I'm not getting the white, kind of sludge on the oil cap, though I did in the past. Any other troubleshooting steps??
Thanks for entertaining a dumb one, guys.