White smoke in the exhaust of a water-cooled motor is almost always water vapor, either from a broken head or intake manifold gasket. Sometimes water gets in the exhaust system, and running the engine for a minute or so will evaporate that water, producing the white smoke. It's possible, with you living in a high humidity environment, that water vapor is running through a cold engine and giving you the white stuff.
As far as the black smoke, if your plugs have no oil on them, it's a carb condition issue (probably running rich). Do you usually run the engine at nine thousand RPM? If not, and you're not seeing this condition at "normal" operating revs (3000-5000), I'd say don't worry about it. Just getting it running well for 90% of your operating range, and you'll be fine. No need to obsess about what happens at the very edge of the performance envelope.
My 3.7 cents worth.
Luke M
Used to have a 1979 CB750L, sold it as a parts bike, now riding a slightly modified 1984 VT700C. Network/Field Engineer. Central OH, USA, Earth, Sol System, Milky Way Galaxy, Universe.
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