I'm new to the K100 Motorcycle and after riding it across 2/3 of the US, I ran into a major problem:  White smoke coming out of the exhaust and then it just died at a stop sign.  It felt like it ran out of gas but the tank is full.  

Background:  The night before I ran into a big storm and the bike and I got completely soaked.  At that time, the generator light came on and seemed not to be charging.  The next day, I was able to disconnect all of the wiring to the battery wipe it down, put on dielectric grease, and reconnected all of the wires.  That seemed to fix the charging problem.  I rode it around for about 1/2 hour and I noticed a little white smoke when I first started out but it quickly went away.

Later that next day, when I tried starting it, more white smoke came out and then stalled at the stop sign.  If I try to start it now, it does not turn over, only drips gas out of the pipe connection just below the foot pegs.

I am assuming this is not a good sign but need to figure out my course of action.  Any ideas on what it might be?

Veets

You need to check the coolant level as what you are saying is classic of a leaking head gasket.
Pull the plugs and check for coolant in one or more cylinders and check in the coolant tank for oil (unlikely but always on the cards)
If left on the side stand you will get the blueish smoke from oil but white usually means coolant in the combustion chambers.

Is it possible that the drain hole on the water pump is blocked by mud wasps from sitting? and water could be getting past the seal into the engine? worth checking.

Does the fuel filler cap flip back toward the seat when open?  If not, it's on backwards and could allow water into the tank.

I have pulled the plugs and cannot see any coolant in the cylinders (though it is difficult to see much at all).  What is a good way to determine if coolant is in the cylinders?

When I crank the engine, a lot of fuel begins leaking out of the pipes.  I have collected the fuel in a glass container and cannot see any water or coolant in it.  It is just a little dirty because of coming through the muffler.

Any ideas?

Veets

Gas cap is on correctly.  I don't think there is any water in the gas tank because what I collect from the pipes is all gas.

Alls well that ends well glad it wasn't anything serious but it would be good to find what it was that caused it.

veets wrote:Gas cap is on correctly.  I don't think there is any water in the gas tank because what I collect from the pipes is all gas.

That's not necessarily the case. Water is heavier than fuel so its propably found its way into the sump along with a good dose of fuel i'd say.
As its now rectified itself its unlikely to be head gasket (unlikely in any event) so the only logical cause would be water in the fuel especially considering the downpour. Even if your filler cap is on the right way round, if the filler cap gasket has fallen apart, as they commonly do being so old, in a downpour you'll get enough water in the tank to get sucked up by the pump.