Was the head gasket used to? If so, it’s the same old story, pay now or pay later! Lets just hope the water intrusion hasn’t damaged the crank or bearings.
Before installing the new head gasket’ make sure there are no low spots (Erosion or warpage) in the head or block – Any bad gaps in the block would require a milling machine – And this is the sequence with which to tighten the head bolts, ignore the V-4 figures – Your Big Twin head torque is higher . . . 😉