[I]water from exhaust - is sign of fuel to air ratio at best , BLACK, your vehicle need exhaust system flushing.
test - Put on a mask - Park your car in open area apply parking brake, shift to P -(in auto trans) and Neutral in Manual trans - cover the tail pipe with best of your force and throttle the car, engine may stall or you will feel the force of exhaust thrust, release your hand intermitently and see what comes out, black soot , some carbon trash coming out
Goto some professional silencer shop, get the silencer removed from exhaust manifold junction to tail pipe, check silenceing mufflers seperately and replace the jammed sections.
will cost you a day but will be of great help. [/I]