I always like to try to figure out what went wrong. This one is hard! I think a mouse built a nest in the air filter, and the owner tried starting it over and over without cleaning the air filter. Then he disassembled it to fix it and used all sorts of wierd gasket makers. Then the mpuse climbed back in and it never ran again.How long was it under water
Considering you can buy a used one that actually runs decent for around 1500 $ canadian, plus the crazy cost and near impossible to source replacement parts needed for a 40 year old Honda, I think you should maybe dump that one back in the lake or let the mice have it, then go buy a brand new Honda and save a whole bunch of time and money.This motor is an odd one. It's looking like a replacement motor will be the cheapest way to go. From what I've found, it needs valves, cylinder sleeves are bad, left side cover's spark plug is seized and needs new threads or new head. Just basic math is approaching a replacement and I don't even have the pistons unseized yet. Everything but the clutch, pistons, transmission, oil pump and crank is out.