If the boat was fogged before storage, you will get alot of smoke on the first start. There are a host of items that you should do on a boat that has sat for a few years. Here are a few.
1. Buy a manual for the engine and boat if you can find one. Fleabay is a good source.
2. Change out the trailer tires. This is cheap insurance as they may look good but fail at 65 MPH.
3. Change out fuel and clean fuel tank and lines.
4. Disassemble carbs, clean and adjust from the baseline.
5. Change fuel pump diaphram.
6. Did I mention to buy a manual?
7. Check timing of trigger and idle cam
8. When reassembled, ground spark plug leads and check cylinder compression. Also look inside cylinders and determine if engine needs to be decarbed. If so, see step 12..
9. You did buy a manual, right?
10. Mix up some fuel and add to fuel tank. Pump up to engine and look for leaks. Make sure that the ball gets hard.
11. Start engine and run at fast idle until it warms up. The smoke should start going away. Next try to idle the engine. Don't worry about it at this point if it doesn't idle well.
12. If the engine needs decarbing, now is the time to do it. Follow the sticky and you will be all right. Change out the spark plugs after the decarb job.
13. When you get on the water, tie up to the dock and adjust the idle while the engine is in forward gear. Adjust it to about 700 to 750. I suggest you use a induction tach because Bayliner tachs jump around alot.
When you are out riding around, check your battery box for water. If you find some, you could be overcharging and should replace your rectifier with a regulator, see sticky.
I'm sure there are things that I left out but others will chime in. One last thing, put the manual where you can find it the next time. (there will be a next time

)
Regards,
John