OK. Mark; I will try your method. Makes sense to !!!! Thanks again    I did it. It was full of gas (the crankcase)  I hope I didn't damage anything. Time will tell. I'm 70 years old and still learning!, you the MAN!

Congratulations! 

You'd probably know right away if you damaged a seal.  Two strokes rely on crankcase pressure and vacuum and run poorly (if at all) when there's a major leak.

And RT325's method of pushing in gear with plug out works too...  I would not call that the "lazy way" though...  I get tired pretty darn quick trying to clear a flood that way.  Flipping the bike upside down seems to require less energy to me.  Plus there is zero risk of damaging a crank seal if you're not using crankcase pressure to pump the fuel out.  (Also if you ever push in gear with plug out make darn sure the ignition is OFF)

Thanks for all the info MarkT. Do you think waiting a few days to let it air out before trying to start it and maybe blow compressed air into the sparkplug hole off and on would be a good idea to dry it out?

Both might help.  I never tried either one. 

I have got it running. Lucky it did not hurt the crank seals. I think blowing low pressure (20 lbs) of compressed air for 30 minute intervals did finish drying out the crankcase after dumping the gas out the sparkplug hole per Mark T's suggestion. Thanks to you guys, I have learned a new lesson about 2 strokes and petcocks. Thank y'all so much! G>L. 

She might smoke the village out after all that as it's likely through the exhaust & packing along the walls of the main chamber. So don't worry about smoke if it's running ok because any crank right side seal damage would have it running terrible if at all plus drinking the Trans oil that you found was at the correct volume 1000cc so all good. Short of burning the exhaust out to dry out the oil--can only take for an extended ride. I love RT1's an assembled them new at work. Happy memories. Any pics or videos of your would be great to see sometime. Cheers from NZ downunder.

JLatham, you and I and many others have some great mentors on here.

Congratulations on getting your issued figured out, as previously mentioned it’s wonderful to have a resource like this site with so many helpful and knowledgeable members to keep our old bikes ticking!  

Everything seems Ok.  I may have gotten Lucky. Here is some photos of my RT1.