smoke

when i start my 86 fiero 4cyl the exhaust shoots out a puff of white smoke... is it possible that my head gasket is leaking or if not what could the problem be?

That is probably the most likely explanation. Does it happen every time you start, or just when it's been sitting overnight or longer?

You can take off the head and check the gasket...

If you find out what your problem is please update me !

Does it smoke under acceleration? If so it can be your piston rings shot.