Bought this 1985 Ford Ranger 2.8L V6 and I'm having trouble getting to the cause of the issue. Guy before me said he replaced the head gasket so I'd assume it's not that, the oil (while a little low and kinda dark) doesn't look milky. It also has an emissions light on.

I replaced the battery, egr valve gasket (was leaking), starter, and choke thermostat.

The issue : Won't idle, white steam / smoke (it's not super thick but there's a lot of it, especially after I can get the engine to warm up) Doesnt overheat either. Exhaust smells like a hint of gas when i put my nose up to it but nothing too major. When it's about to sputter out and die, I'll press the gas to keep it running and it lags behind a little bit.

I was told it's either a blown head gasket, incorrectly set choke thermostat, or a vacuum leak somewhere. Was looking for more advice or possible solutions, thanks.
Choke Thermostat Setting

 

What does the white smoke smell like? Are you losing coolant? Perhaps diagnosing and fixing the emission code will solve your problem.

 

The smoke doesnt smell like anything (besides a tint hint of gas ofc), the previous owner said the emissions light was from no smog control unit. And said there was an exhaust leak.