Yeah may be just condensation. I had this last year about this time, I was concerned about milky water and drops of water in the oil, but dipstick always clear oil. I ended up compression testing , all good, so got the whole lot pulled down and checked and nothing wrong.
To stop the condensation, all I did was instead of having the breather on the catch can go to atmosphere, I just attached a hose to the top side of the carb hat, so gave slight suction to keep the water mist or condensation out of the engine, and its all gone. Still get milky oil on underside of the cap until its warmed up if I haven't driven it in a week or so.
Depends how much water and how you found it. I first found mine last year when dumping the oil, started seeing milky oil on underside of oil cap, so dumped the oil and found about a cap full of water in the oil and panicked, but ultimately it was all fine, but cost me $1200 to strip clean and test to be sure..!
BoostedXD got a reaction from Wes in Water in sump