A friend of mine who couldn't afford a vw bought a mid '70 Porche with a stroker type 1 motor (I kid you not), anyway he says when he starts it up after sitting for a period (days) it spits quite a lot of water out the exhaust.
I told him it was more than likely just condensation from last time the engine was shut down hot and cooled. is this correct My beetle does it too.

Sounds right - just condensation

As for the Porsche - sounds like a 912E or a modded 911
The 912E came with the T4 motor. Someone has just gone the other way for a cheaper motor