WD-40 is water based. it works well on de rusting bolts etc but I would not use it for this application.
If you do not use old oil then you would want to have enough new gas aviable to fill the tank.
The trick is to the the water out and then fill it full so that it does not "flash rust".
I have heard of a few different things to use but once you have the tank dry you
want to eather coat it, treat it, or fill with fuel.