Well the initial problem was simply the petcock, fuel wasn't coming out in the on position. Easy fix. But everything else that was suggested certainly helped me get the bike in a much better running condition. I feel like the previous owner wasn't too keen on taking care of it. As for the smoke, that went away after a mile of riding. So it was probably just from the bike sitting on the side stand so long.
But I have put about a hundred fifty miles on it so far, and I could not be happier.