Scary start to my non-turbo 1988 MR 2

[bishopse5a]

I'm the original owner of a 1988 non turbo MR2 with 92,000+ miles.  3 weeks ago when I started it, it started right up, however, there was a high pitched whirring noise that lasted about 45 seconds and then went away.  It had driven fine since then.  Thursday, I started it in my garage.  Started right up; same whirring noise; began backing out, but this time I saw smoke rising from the back engine cover holes.  I pulled it back in the garage and shut off the engine.  Burning smell.  I know this is bad.  Any guesses what the problem might be?  I hope to keep this car forever.  THANKS.   BISHOP   

[fordulike]

Possibly sticky starter motor solenoid, causing it to stay engaged when engine running.

[Bod&Hammie]

That’s a common problem on the Mk1. Does it sound like whirring with some chirp noises along the way?