A couple of months ago I flew my P2V into a small lake. I retrieved it after about 30 minutes in the water. Lost the camera and battery was bad. I opened the craft, flushed it out and dried it with a hair dryer for about 1.5 hours. Then, it sat under a fan for 24 hours. Put a couple of drops of oil on the motor bearings and put it back together. It flew again. I wish I could say it was a happy ending but...
It flew but not exactly as it used to. As time went by, it slowly got worse. I did fly it with a replacement camera a couple of times that went fairly well but when I finally got my Rotorpixel gimbal it was starting to fly badly. It reported getting sats and passed all calibrations but it would suddenly just climb or drop. It would yaw unexpectedly. During a second cleaning I broke down the motors and found rust starting on the stators. I noticed the NAZA module appeared to be sealed but I thought I would try to open it. I pried it off the control board and opened it up. It is not water proof and water likely got inside. however, it is sealed enough so any drying with a blower would likely be unsuccessful. I planned to buy a new NAZA module and four motors that came to $350.00. I found a dealer selling the "craft only" (No camera, battery or controller) for $499.00. So, for $150.00 more I got a new craft.
It flies perfectly.
If your bird wasn't in the water all that long the NAZA Module may have been spared. I would watch the motors very carefully. I would even consider opening the NAZA if it hasn't been very long since this incident. Internally there is a circuit board and the sensor that detects acceleration, altitude and the gyro. There is a connector that ties the two assemblies together electronically. I suspect in my case that connector may have been compromised. I wonder if I had opened it up sooner and let it fully dry out if it may have been spared.
Eventually I will still buy the motors and NAZA Module and hopefully have a spare bird. I'm just so glad to be back in the air!
I also suggest with any water incident that the mechanical connectors all be cleaned. Basically un-plugged, a contact cleaner sparingly applied, and secured back in place.
Geo