98 Eclipse GST - smoke

i'm looking at purchasing a '98 GST, but it has some smoke coming out of the tailpipe while the engine is running. The smoke increases dramatically when the engine is revved. I assume it is burning oil, but I'm certainly no mechanic. What are some of the more common reasons this might happen?

P.S. The seller is a dealer, not a private seller so I should be able to get them to take the repairs out of the sale price. I just need to know what it is.

blow head gasket, shitty ring. check coolant,and oil color. what color is the smoke ?

If its orange/red smoke It's a blown alternator..

It's most likely the rings. Is it a bluish smoke? Do a compression test yourself and that will most likely give you a pretty good idea. Just wondering, what are they asking for it and what's the mileage like? Any mods?

I'd say the smoke has a bluish tint, but it could also be gray. I'm pretty sure it's burning oil. I talked to a friend of mine who has a '97 and he said it was probably the oil rings, or the head gasket as well. He said the '98s are prone to cracks in the gasket. Is that true?

No mods, bone stock engine. It has 99k on it, and the sticker is $6,995. It's in great shape. The rag top is pristine, and there are some minor dings and scratches, but other than that it looks good. Oh, it does need a new clutch (and at 100k miles probably a new timing belt too).

It should have had a new timing belt RELIGIOUSLY at 60k. I'd pay no more than about $4500 for it. You're most likely gonna need a new engine (or rebuild) plus a clutch, and it's got dings in it? No way in my book.

The only problem is I need to get out of the car I'm in posthaste. My Spec is a money pit. I bought it 6 months ago and 2 weeks later had to put 2 grand in because of a blown head gasket and a hole in the radiator. It has suspension damage and the wheels are toed. It's horrible. A rash decision that I wish I could take back, but I can't. So I need out as quickly as I can. I'm not so much worried about being able to mod it immediately or anything. (And just so you know, I'm not going to pay 7 grand for it).