Re: Repair or what?
Luckily water is heavier than gasoline. There is a carb bowl drain as well. Drain a little out of the carb bowl and see if it looks contaminated.
Also, are you using the choke to start it? Try moving it to different positions while starting, and don't stop pedaling. If you still have no luck, take the spark plug off and see if it's wet. And also, how much oil did you premix? Are your coil and kill switch hooked up right?