Can Intercooler Smoke Turbo?

[Charles Schwartz <cschwart@stern.nyu.edu>]

Someone has an '88 5000CS Turbo for sale.  I haven't seen the car yet, but
the owner says it's in good cosmetic shape.  He has receipts for lots of
different things done in the past year including an auto trans rebuild,
steering rack and pump, ac blower, etc.  He said his mechanic told him he
has a split in his intercooler caused when someone backed into his grill.
He also said that if he drives the car a short distance, white smoke comes
out of the firewall side of the engine.  Could this mean the turbo is
smoked? Fried?  Toasted?  I could probably pick this car up VERY cheap.
Maybe for $1000   But would I want it?  If it is the turbo is bad, as well
as the intercooler, how difficult is it to change myself?  What should I
look for to determine a bad turbo versus a leak in some plumbing?

Thanks,

Charlie