Picked up this 91 accord for $100 bucks not running, when getting home it would crank but that would be it, took the spark plug wires out and all had oil with 4 being drenched. Thinking it was the seals i noticed some black stuff and cardboard in one of the spark plug wells ? as I removed the head and and exhaust manifold i noticed this, any ideas why this is like that ?

 

I'd say valve seals are probably shot.