Problem solved. I replaced the trackpad and the Shift, Control, Option keys now work. I would imagine the water damage messed with the circuitry and keyboard connections on the trackpad. Hopefully this helps others as I've never seen a clear answer to this issue anywhere on the Internet (I searched for days!).
I got the MacBook Pro up and running....somewhat. I had to hold down a key while running through the start up screen just so that I can make it to the login screen. Once I logged in I was able to run some normal functions. One thing that happens quite often is the "Are you sure you want to shut the computer down" message keeps popping up. Also, The screen goes dark and the keyboard backlighting turns off, as though the MacBook is going to sleep. I simply touch any key and it comes back on. I had it running for about 15 or 20 minutes before the screen went dark and then it shut off. Does this sound like an issue with the power button?