Just few days ago finished my e34 527 turbo. Of course there are some things to do but at least I can drive it now. But I'm having a problem. In the mornings when engine is totaly cold there are kind of white smoke coming out of the tail pipe. And it smells like burned oil. When engine is warm there are no such things coming out.. Could someone guess what the problem is? Maybe turbo is leaking oil?

BMW 527TiS '89
BMW 316 e21 '82