That could be a 'good' sign. The previous owner may have already dumped oil in that cylinder, trying to unstick rings and/or do a compression test. And now, all that oil is in the exhaust (not showing on the plug), and burns/smokes when the exhaust heats-up.
Takes quite a bit of running to burn-out oil in the exhaust. Or, could remove the right exhaust and flush it out with your favored solvent...
Takes quite a bit of running to burn-out oil in the exhaust. Or, could remove the right exhaust and flush it out with your favored solvent...