make sure you're fluid/oil levels are right
If you haven't had an oil change yet, then one of the first things I do whenever I buy a used car is to change out all the fluids, especially oils, steering, etc. If the oil change wasn't done right (over filled for example) this can cause a pressure build up and the smoke you mention.
Also, if it's starting rough, or needs a tune up, that can cause smoke as well. I've even had smoke come out from around the header/exhaust areas when not all cylinders fire right away on start up.
If these easy ideas don't fix the problem, then you will want to start looking at the valve seals, gaskets,, etc. like the previous posts.
AND...if you get past these areas and you're still smokin...get you check book rready as you are probably looking at a ring job or something more serious.
In a nutshell, always have a car you're looking to buy checked out by a competent mech before buying. The couple bucks that costs will save you or make you aware of what needs to be done. It can also help you get a better price if you know what you need to do beforehand.
Good luck!
:t