is it a fresh motor with a new turbo kit on it? it could just be condensation in the exhaust, there will be a lot once that new piping gets hot. also, i'd check your oil drain line from the turbo.. could be burning up oil inside of the turbo by not draining fast enough, and therefore burning up the seal and making oil leak into the downpipe.. that could explain part of it, hope that helps. oh by the way i got my car tuned at HP Ranch too, you ever make it up to Krispy Kreme on friday nights?
01 GT. built, cammed and blown