Slow down there. In order to get white smoke or any color smoke, something needs to get into the intake system or the cylinder itself. There is no way, that your engine
can pump water into the intake system or cylinder unless something is wrong. A simple overtemp is not going to put water inside the engine. The only way for water to get in the exaust is from the cylinder or perhaps the exhaust
Some oil in the turbo is not uncommon. How much, who should say? Most often oil in the turbo will burn off in a few minutes. It's sticky stuff so you can have a bit of residue in the intake and it does not mean that much.