My bike will smoke like the dickens if I leave it over winter to absorb moisture into the oil. After it burns it off it's fine...you say he had it parked for a while, a few days shouldn't cause that kind of condensation.
Personally, the smoke being white makes it kind of a non-issue for me, if it was blue/black I might have some reservations, but beat down a couple hundred (or try) and buy it is my opinion.