Cost wise, most kits I've found are under $1000. Cost of a 350, with low mileage, is starting at around $1500, PLUS the rental of a vehicle, and gas to go get it, when most people selling them, live very far away from myself.
Also, look into sales on the low end GM crate 290hp motor. From time to time it's $1500 US on sale, not sure on CDN sale prices.
It doesn't really make 290hp, crank or wheels because they test it with unstreetable options on carb etc. But a cam and heads really wake them up and... new.
Best bang for buck under $1000 is probably an L31 truck engine,, but even an LO5 tbi 350 can be brought to mid-upper 300a and near 400 lb ft the with heads, cam, intake, carb,, headers.
Much more power than that you'll need MORE frame work, suspension work, axle work, etc.
As for the rebuild reasons, it's because the engine is seized, and has low KM from what I understand, but you are right, the reading could be false, that's just the risk you take with older vehicles such as these ones.
Emphasis added.
With a seized engine all bets are off and you could be looking at MONTHS plus a thousand or more beyond the kit to a machine shop. All depends why and how it seized.
Until a seized engine is out, and torn down, you can't predict what you're looking at but you CAN expect to pay a machine shop. Which also means FINDING a good machine shop,, then waiting for them to get to your work.
At a minimum you probably need reconditioned rods, pistons pressed onto rods, either a polished or turned crank, at least a line hone on bores if not an over bore. Freeze plugs pushed in, so on so forth...
Logistically, until you know how things will be machined you cannot order the right size parts for the engine.
Then you don't know whats up with the heads, so on so forth.
Biggest problem? You already said the guy who sold you the car lied about things and stopped responding. Well, that calls into doubt the engine IMO if it's already seized.
So on the rebuild path you need your buddy to pull the engine, and strip it to its tiniest parts. Then you see the damage, feel the bore with your nail to see if there's a ridge, etc etc. Get then professionally cleaned (hot tank) and magnafluxed if you get that far without finding a dead end. This is a.couple weeks in.
Then shop should report what they find and where they thing things clean up at. Obviously you tell them no if they want a +.060 overbore or turn the crank .030 under because... why would you want to pay for that in a smog 305.
Then wait for the shop to do the machining and resizing/reconditioning rods/crank etc.
Here you may wait weeks or even a couple months depending on shop volume. The best shops have longer waits because they have more jobs and volume.
Once they tell you for certain what the specs are, then you order new bearings, new pistons, rings, etc, and send the rods back to put the pistons on because it's much easier and you know it's right.
You may wait a couple weeks for parts to arrive.
Now it's a couple full workdays worth of effort to assemble things, assuming no headaches - and yes, you may get a defective bearing or other part here or there, its part of the process. Things gets put together and apart a few times to check clearances as you go.
Depending on schedule of the friend, that decides how quick all this is done. If they mess up, and you start the motor to ruin a bearing and put metal shavings through it you've got to start over.
Eventually, you get a complete motor, set the timing on your new timing chain, that you then put in special oil to break in and run a certain way for a while before changing oil and going on to street use.
Yes, lots of steps left out. Read some engine build threads to learn a little more if you're interested because... lots of details and it may be boring to you since you hadn't planned to do the work yourself.
This was a very long way to say I hope your friend has space to safely store an engineless car for a couple months, or you're towing it back home. Cheaper to buy a collapsible hoist/cherry picker and pull the engine where-is than tow it twice, sell it after and get 50-80% of your money back.
TV shows make it look like you just swap the bearings and stuff works properly. Not always so true, and not for longevity. Couple thousand miles later.... BOOM.
If you've got nothing to lose though, pull the plugs and fill the cylinders with marvel mystery oil. Let it sit a few days. Use what they call a breaker bar (very long rachet handle) on the crank to try to turn the engine and free it up inside. Maybe try oiling a few times. Can't hurt things if you're swapping anyways. Search tips on freeing a stuck/frozen engine. You may get it loosened enough to move under power even if not well.
If it does come free, change oil before starting and go through long storage start up steps, the be gentle on gas pedal as seals reexpand, so on so forth...
