Are you sure it's flooding? If it is flooding that bad, then it's probably a needle and seat that are completely shot or a spring that is cut or missing. Unhook that carb and pour some premix down the throat or use the primer to see if you can get it to run. Make sure your idle screw is set well enough to run and not choke out the engine.
I think the mikuni manual tells you how to check out the carb. You should be able to blow or suck on different nipples and get the results you need. Open up the carb and look at the little valves and gaskets. Make sure they seal and open when they are supposed to.
Besides the needle, seat, and spring, which aren't in a carb rebuild kit, a worn out carb will not supply enough fuel.