1. haha, toilet water is flesh running water, its the sewer water that stinks.
2. the smell will come few days later, not the day it got soak, the smells usually come from bacterial growing in water.
3. here is what you need to do if you don't want to spend 5k.
4. go rent a shampoo cleaner from HD or somewhere, need a commercial grade with big sucker power.
5. suck out as much water as possible on carpet, and roll the carpet back, have the pads expose.
6. suck out as much water as possible on pad, then go rent few floor fans from any local equipment rental shop, keep the fan running 24x7 for a week.
7. if you have dehumidifier, keep it running too.
8. usually the carpet can save, but pads are not.
9. don't worry about drywalls, they usually can stand a bit of water.
10. your insurance usually not cover floods..sorry to tell you that.
