Sounds like k-jetronic?, I would say a good start would be to make sure the system is running at 70psi and basics like injector seals are good, have you managed to get the engine up to normal operating temperature?
It could be a bad thermo time switch and cold start injector causing too much fuel to flow in, try disconnecting the cold start injector, let it squirt into a bottle and see what happens when starting
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