Day 2 with car. HELP!, Water in the motor. Options

[Silverstreak]

Well I bought my 914 Sunday. Started work on it today. Let me first tell you that the rear deck lid was pushed back so the engine cover wasn't closed all the way. Also the throttle was stuck and one of the carbs was wide open. So, subsequently rain poored in through said wide open carb because one of the wing nuts that held the aircleaner on was missing. Drained the oil today and the first quart was pure water the rest a nasty grey mix and at the end mostly oil. There was no signs of rust in the water or oil as I believe this occured recently because the accident that bent and pushed the rear decklid happened recently and the car didn't sit too long. Anyway, I'm open to suggestions, I suspect I should probably tear the engine down and rebuild. But if there is any other option (besides dropping in a different motor) I'd love to hear it? Thanks in advance.
Cheers,
Josh

[Silverstreak]

All right, drained diesel today. Changed filter,added fresh oil and ran it off the starter(carbs off, need a rebuild) for 1 minute intervals about 5 or 6 times, resting the starter a few minutes in between. All seems good, turned over easy, no water came out of heads, could feel air puffing out of spark plug holes (or whatever they're called) gonna run a compression test tomorrow and drain oil then add synthetic. Thanks again for the help guys, can't wait to ebuild carbs. Also think I need a new fuel pump as no fuel was pumping out of fuel line while cranking. Problem is I can't find the bugger, Haynes manual shows where it's located in an aweful photo with no real reference point. It's a 74 2.0 if someone knows where it may be. Thanks., Tara (IMG:style_emoticons/default/bye1.gif)

[hot_shoe914]

All right, drained diesel today. Changed filter,added fresh oil and ran it off the starter(carbs off, need a rebuild) for 1 minute intervals about 5 or 6 times, resting the starter a few minutes in between. All seems good, turned over easy, no water came out of heads, could feel air puffing out of spark plug holes (or whatever they're called) gonna run a compression test tomorrow and drain oil then add synthetic. Thanks again for the help guys, can't wait to ebuild carbs. Also think I need a new fuel pump as no fuel was pumping out of fuel line while cranking. Problem is I can't find the bugger, Haynes manual shows where it's located in an aweful photo with no real reference point. It's a 74 2.0 if someone knows where it may be. Thanks., Tara (IMG:style_emoticons/default/bye1.gif)

If it is still in the stock location it is on the passenger side in front of the rear wheel up inside on the inner wall. Be sure to change the fuel filter while you are at it.

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