How much got flooded?
Now HANG ON A MINUTE, GUYS! Don't jump to conclusions until we've heard the details! How deep did the water get? If it only got up to the floorboards, probably no problem except for the wheel bearings and center bearing. If it got up to the top of the seats, probably no problem except for the console switches, shifter switch, taillights, etc. If it got any higher, don't even think about it! SOMETIMES a deal like this can work out, but you need to know what you are going to have to deal with up front, cause all those electrics are expensive, even more so than the mechanical stuff. If it got high enough to cause engine problems, it probably got too high. If the price is right, it might work out as a parts/sheetmetal car, though...