A turbo road race car I worked on I had to upsize the drain hose from 1/2 to #12 aeroquipe to handle the drain. If you let the drain hose drain to a bucket its not oil its oil foam coming out, the foam backs up easily. It does not have to smoke, until it fails....
I would try and come up with a above the oil drain, it allows the natural vacume in the crankcase to help scavenge the oil.
It likely depends on how the car is intended to be run as well, most turbo cars don't regularly run at flat out full speed for a half hour straight...
I know that air research used to say more turbos were ruined by over oiling than under oiling.
Dave