The following image shows a crude mock-up of the direction I'm going with this Land/Air/Water drone that I am calling a LAW Drone, interesting acronym:

Here you can see how a propeller can be a wheel and a wheel can be a propeller, plus probably work in water if the box is waterproofed and shaped appropriately. Of course such a craft will operate poorly in any of its three domains so it's value is in it's diverse utility. For certain situations and environments it will be well suited.