2s are often called 2smokers for a reason. The type of oil and mix ratio affects this. What are you running? Does it smoke more out of right than left? If so, you have a bad seal and are burning trans oil.
Really should do a comp test and leakdown test seeing as the shee is new to you, and you are new to 2s. Highly suggest getting a Clymers Repair Manual, will cover 99.9% of anything needed.
Might be best to clean the carbs, set float levels, record what jets are in. Do them one at a time as they have simular but different parts.
Might as well post the jetting and all known mods to your bike too.