[fasternat]

Hi,
I know that you need to get the water out asap before it damages the main bearings( it may be too late.)
There is a drain plug (allen) for the crankcase on the bottom of the engine ahead of the trans drain. Remove it. Remove the air filter as it also probably is flooded. Remove the spark plug. You can spray some wd40 into the intake tract and then kick the engine over repeatedly while holding the kill button. Clean the plug(dry the plug) put it in and try to start the bike. If it starts, don't rev it more than you have to until it warms up. Once it is warm, it will have dried itself out (crankcase, cyl, etc) but you will need to drain and refill the trans. Remember the air filter is off so get the loose dirt out of the airbox 1st.
Another way is to attach a shop-vac(wet/dry vac) to the exhaust flange(remove the pipe) clean the flange and use duct tape, or hose clamps and anything you can use to make a junction between the vac hose and the flange(maybe a rolled up piece of cardboard or a cut up milk jug) Then get a blow drier and blast it into the airbox(filter removed) while holding the throttle open. You might want to pull the slide and cover the top of the carb so max air can flow. Now you have to turn the engine so the piston clears the port at the reeds. blow the hot air in. When the cyl feels warm from the blow drier you can then put the engine at tdc turn on the shop vac.