Captkaos....LOVE the handle!
(LRTA) = L...Long shaft
R...Remote control
T...Trim n tilt equipped
A...American market
Answering that part of your question was easy..
But what's causing the white smoke could be a bit tougher.
I see by your post that you don't have much outboard experience. Your comment about "hasn't lost water" was the tip off BECAUSE....
...they're SUPPOSED to lose water!
If you don't see water ALWAYS exiting the outboard, that indicates a problem! That constant pee stream is called the "tell-tale" and is supposed to indicate that the WATERPUMP is operating properly. If it STOPS peeing, you are supposed to stop and investigate why.
Sometimes it's because the pump is bad and needs to be replaced.
Sometimes it just means that the tell-tale passage is plugged up with grass or other debris and needs to be cleaned out.
But, in this case, I'm HOPING it's because the little rubber tube that takes the tell-tale water from the engine out to the nozzle that sprays the water outside has come off under the hood.
If so, that water will be spraying around UNDER the hood and may be hitting something hot in there. You need to find and correct that ASAP because that water can cause damage. Especially to electrical components. Take off the hood and run it to see if that's the case.
I might be WAY off but at least it's a start.
SECURE THAT HOOD so that it doesn't go overboard! They often don't return!!!
Let us know what you find.