Welcome to the world of BMW, I say this because reading some of these post's it's apparent that some y'all haven't owned a BMW before. That's allright, your life's about to get better
The K engine has been in production since 1985 (K75, K100, K1100 and now K12LT)
I've owned one of each and they all smoke if you leave them on the sidestand too long,
come to think of it even the old Airheads (with a few miles like over 100.000) would do this,
there's nothing wrong with the design of the bike, K motors are almost "bulletproof"
they are designed to be parked on the centerstand, why not learn to use it?
The first couple of years the K motor came with an "enrichner" or choke lever,
probably because that's what everybody was used to,
the engineers figured out the bike doesn't need it, so it was removed (makes sense to me)
Also this same motor has been working almost flawlessly for 22-23 years without a fuel shutoff valve (petcock) because...yup you guessed it, it doesn't need it.
I'm amazed at some of the concerns some of you have,
just because it's not what you're used, to doesn't make it wrong.
I'll tell y'all the same thing I tell all the HD guys I used to ride with:
wear out a tire on these bikes and you'll have a different perspective
and I'd be willing to bet you wouldn't want to ride anything else.
If you haven't worn out at least one tire, quit whining,
you don't know enough about the bike to criticize it.
Regarding the oil level, with the "cold" bike on the sidestand the oil level should be visible in the bottom of the sightglass, that will put it right about in the middle of the sightglass with the bike on the centerstand.
It doesn't matter if it's a little over.