possibly timing chain issue?
 

So i just got this car, and its def. Seen better days, but it seems to run fine aside from a rough idle at about 550-600 rpms after it warms up, and the smell of fuel coming out of the exhaust, and white smoke coming out of the exhaust when i go to pass and get on it pretty good. Im hearing a nock, or tick on the right valve cover toward the front of the motor, and my original idea was maybe a bad lifter, but then i thought about how it was running a little goofy like it had a miss, and i figured it could have possibly jumped timing and the chain is loose. Im no lvl 70 epic mechanic, more so a novice, and im not terribly advanced at diagnostics, or troubleshooting, and in my experience, one small problem could be caused by a plethora of things. So my question is...what do you guys think? I realize its hard to diagnose from vague details over the internet, but any input would be much appreciated.