Howdy Havoline and All:
The water in your tailpipe on start up is most likely from condensation in the tail pipe. It builds up most during short trips, where the system never gets warmed up, in cold or humid climates. When the water lays or puddles in the low spots in the tailpipe system and mixes a little with the fuzzy black stuff (soot) in the tail pipe. When you start it up water and the black fuzzy stuff come out. The fuzzy black soot in the tail pipe might be an indication that your carb or choke is set too rich.
Adding more water down the carb will loosen the hardened carbon build up in the combustion chamber, but will do little for the tail pipe and will make the water by product of condensation worse.
Solutions and precaution- Avoid cold starts and short trips, at least once a week get your car up to operating temperature, use Heet or other alcohol products in your gas in the winter, or use gas-a-hol. Alcohol removes water from gas. Pre heat your engine before cold starts to shorten warm up/choke time.
Adios, David
Adios, David