My exhaust is Custom and looks nothing like a Mountaineers exhaust or a Rangers. I was going to probably change it to dual exhaust instead of 2 to one large single exhaust. The ticking noise increases during acceleration of the truck then quiets down. There is more ticking in the morning during idle.
I was going to change the oil cause i don't know when the oil was changed last. I know it was changed about 2000 miles ago. The oil was valvoline oil 5w-30 5 quarts. I was going to use HMX Royal Purple oil instead this time around 5w-30 5 quarts. So that is the first step to fix the noisy lifters im going to take.
After i get the oil changed, I will have the truck checked for exhaust leak as well as the pulleys checked tensioner belt etc and see if that is the squealing sound.
I am more concerned about the ticking of the motor then the squealing.
Say i have 1 or more bad lifters does the engine basically need to be rebuilt. How do lifters wear normally? Do they wear out usually evenly like a other mechanical parts?
Does the engine need to be removed and torn down to replace lifters?
Can lifters be upgraded? The engine is a old design i doubt any upgrades can be done.
Again im not a mechanic so forgive me if i ask stupid questions.
How much Money would the repair be? With the engine being very old can i even get lifters or would i have to swap parts off another engine? Im going to give a engine rebuilder a call and get there opinion on it

So, I'll stick with the theory for now that it's an exhaust manifold leak- that would be consistent with louder when cold and louder on acceleration. What
@bobbywalter and I are talking about is a leak right at the head between the head and the manifold, or header if you have them. The more "custom" the exhaust, the more I'd suspect leak without more info. There are a bunch of little issues and oversights that can cause a leak like that.
Re: oil... I've said this in other threads lately and it's bound to stir up a little controversy but once you're pretty certain the engine is unhealthy, I'd be inclined to go up a step on the oil viscosity unless you're going to be driving in sub-freezing weather. However, I don't think you're there yet. Of course, fresh oil is better than old oil, and sometimes old oil gets pretty thin and might exacerbate the symptoms you have. If you're partial to Royal Purple, go for it, but when I'm dealing with a questionable engine I like to start with the cheapest fresh oil I can get my hands on. Why risk wasting money if you're going to have to tear into the engine in a few hundred miles? Walmart SuperTech full synthetic is cheap and great quality. Just check Project Farm.
Like
@bobbywalter says, lifters are (look away Hemi guys) an uncommon failure. On these engines I would put a lifter failure down to either a freak occurrence or, more likely, neglect. Even then, unusual. I believe he also mentioned oil pressure too, which is worth investigating.
Having said all that, you'll have no trouble whatsoever finding replacement lifters for a 5.0 I'm sure there are hundreds of choices on the market. If you get into doing lifters though, you're going to want to have a pretty serious think about what else you want to do once you have it that far apart. If you're going to have a garage do it, it might end up being cheaper to replace the engine. It depends, lots of factors to consider there.
As far as it being an older design etc etc, I agree with
@bobbywalter , it's a legendary engine with a huge following and a huge aftermarket for parts. You can literally do anything at all you want with a 5.0, it's not quite a small block Chevy but it's close in terms of support and community.
Last thing: if you were going to replace one bad lifter and pay a competent mechanic to do it, I would think you're looking, ballpark, into at least the $1000 region - all labor. A lifter is probably $5. However, I doubt any mechanic would approve of that repair, they're going to (rightly) want to do a few more things along the way. A currently working tech might chime in with a much better estimate. Good luck, don't stress about it, just be scientific and methodical and you'll find a way to fix it. Everything's fixable.