I have a 1990 Rx7 gxl with 150k miles. My engine tends to flood constantly. I can get the car to deflood and start for a day, but the next day it'll need a deflood again. I believe it's the fuel pump or fuel injectors or just a fucked up engine. I already replaced the spark plugs and fuel filter. I've had a fuel pump from my parts car added into it as well to test, but still flooding. The one from my parts car didn't read the gas level for the gauge, so I'm guessing it's a bad one too.

Anyways a month or two ago, I had to removed the custom exhaust that came with the car when I bought it and replaced it with a dual stock exhaust with cats. The problem I'm having with this is that every time my engine floods and I need to deflood it, I noticed oil is leaking from where the gasket is between the front converter. See picture:



I know my exhaust isn't bolted on tight because I wanted to see which exhaust I'll like more, heck I'm missing a bolt nut. But an FC shouldn't be leaking oil when the engine is flooded or in the process of deflooding while I try to crank, right? Is this normal when the engine floods or is my oil ring gasket toast? It looks pretty bad; see picture:



When the car does start, I see white smoke and not black or blue smoke. I don't think I have a coolant seal leak; just the car burning the excess gas from flooding.

 

If your car is leaking there,as you say..then it is actually gas from the engine being put through your exhaust and finding a leak to escape.
That doesn't look like the consistency of oil..it looks like unburnt gas and exhaust crud.
My guess is You may have a bad injector.