The difference in color could be a carb thing - but if it burn that way long enough to discolor one of the pipes I would have concern that there could be long term damage. That cylinder may of been to lean making it run way to hot. May want to consider a compression test.
If it's cheap, and runs, then it's ok for a first bike. But a inline 4 750cc bike for a 1st timer is alot of bike. Don''t look at the year and think it's tame. That bike will move.
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