Is the smoke continuous thereafter or only for a couple second after a COLD start? If it's only briefly present when the engine is just started and cold then valve stem seals are most likely. If it's constant then it could be bad rings, scored cylinder walls or damaged pistons. Do a compression test to start tracking down the problem. Blueish smoke = oil, white = steam (water and coolant), black = unburnt fuel. Of course there are other colors if more than one issue is present.
JDM engines are often worse than buying a local, high mileage engine at this age. They're discards from a society where cars (especially old ones) are completely disposable, seldom driven and the parts usually are pulled out of the cars to optimize storage space where they then sit under a tarp in a very humid storage yard for years. JDM really holds no value except for engines and parts which aren't already available in your area. At any rate, engines age even if they're never driven. The seals still dry up and condensation causes slow, consistent weathering of moving parts.
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