If you don't already have the tools, or access to the tools, then you shouldn't be messing with it. Buying tools is really what can make or break the rebuild budget. Things like micrometers, telescoping gauges, engine hoist, etc.
You're going to have to measure everything and determine what needs to be replaced. How much is worn out of spec and / or broken determines how much the rebuild will cost. Basically, you have to take the motor apart and inspect it before you buy the kit.
I would advise you to go get yourself a junkyard motor. That way you have spare parts. Usually they're cheap enough, and can save you a good deal of money in the long run with your rebuild.
The other thing to do is find a good automotive machine shop. Compare prices. Also, look around. Is the place clean? How much other stuff is there? Are there any other Ford's there? Talk to the guy. See if he keeps all the valves, rockers, pushrods, etc, in order. Some people don't. See if he media blasts aluminium parts so they pit up, or if he knows enough not to do that.
Although the cost to rebuild can be open-ended, I recommend doing it yourself, if you have the means to do so. That way, you can measure everything yourself, and you can make sure it's all right before it goes back in. I doubt others would be that careful. Also consider that the parts going into a reman motor are probably made by the lowest bidder. Do you really want lowest bidder gaskets in your motor? Bearings? Piston rings?
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