1986 Camaro Very Hard To Start Cold

Have the cold start fuel inkector checked for flow.

is this a carb model or a injection and what year and model would be of a help

Sounds like a cracked head. Or possibly a bad head gasket.
Either one of these would explain water coming out of tailpipe.

start inward and work your way out zig zagging from bolt to belt at 35 foot pounds

your spark plugs and wires is bad or intake manifold leak and a stop up fuel filter will cause hard cold start ups in morning.

souds like the choke is staying on too long , did you check the chokevacuum pull off they often go bad

OK lets start with this..

I am guessing that when you say possion you are meaning you gear selector and when you put it in say drive.

If that is the case.....

Your problem is most likely the fuel pump relay or fuel pump itself.
Start with checking, or have it checked, the fuel pressure at the fuel rail.

If the pressure is low then a fuel pump can be suspect. There are then other test which have to be performed to see where the exact problem is.

Btw, I’m available to help over the phone in case u need at https://www.6ya.com/expert/sean_54c3a3dc48a7773c

check battery i had hard time starting when cold and took battery in and when i bought it used they had a smaller battery in the car and was not turning the car over. it happened when the battery was weak when it got cold

clogged injectors you need to put cleaner in the fuel to help get dirt and grit out of them some times (every 3 months).
I am assuming you are saying it will turn over but not fire and run when cold?

Have the plastic intake manifold and gasket replaced. I have posted this fixed at least once before and have seen it numerous times.