Water In Catback???
 

I was driving the 240 home the other night in the rain, took a short cut through a school and hit a puddle. I shut it down immediately then jumped out and backed it up to a safe spot and left it. I checked my engine bay and there was no water other than what was falling from the rain because the hood was up. My intake didn't have any water on or near it. I do know that some water went into my catback through the rear as I was backing the car up so my question is this. If I disconnect the exhaust at the test pipe/cat converter and let the water drain out...I shouldn't have any problems should I? This ruined my X-mas by the way!!!

you dont need to do all that... it wont hurt your motor just start the car and the water will shoot out

Car will start but dies out soon after...I'm at a loss now as to what to check.

was the exhaust tip completely submersed in water?

Yeah, how much water did you go through?