Trying to save a "raised deck" v-8 !!!!!!! UPDATED!!

[GaryU.]

Sorry for screaming it out but I just got a "raised" deck flathead this afternoon. It was on C-List for the last few weeks and I talked to the auto recycle yard owner 2 weeks ago when he told me someone was going to buy it. Kept seeing it for sale and finally called again, deal fell through of course. Had a felling so offered a hundred for it which he accepted. When getting it today I noticed the missing spark plugs and the water around the holes. Got it home and found it turns over, all pistons working. Pulled intake and found lots of water in lifter valley, drain plug was loose, no oil just water, enough to fill 1/2 a paint tray. Looking for suggestions for what to do next, I don't have time for a few days so can't pull it all apart yet. The yard owner said some young guys brought it in and he had no idea where they got it from and yes it did rain 4 1/2 inches last night which explains the water. I'll try to post pics later if possible. GaryU.