Coolant leak & mixing with oil

[nick124]

I just purchased my '91 Supra turbo yesterday and am very excited about it. I got it for a good price and it is a bit of a fixer-upper. That being said, It is puking coolant and the oil is chalky when I checked it. I took it to a local shop (because they offer free inspections and I don't have a hoist myself) and they showed me what we think is a leaky timing belt cover gasket. This of course is not coming from the top, plastic section, but rather the bottom section. Of course they said it was a 5 hour fix and I am hoping to do it myself. I am in school however and may not actually have the time.

Is this a common issue? Has anyone here had this problem and/or fixed it themselves? I am trying to find out as much information as I can and I am obviously very new to the forum, but I hope to be an active member.

Thanks.