89 360 engine

You have received a lot of good advice. Here is my $0.02. Buy it! Then take it home and completely disassemble it. If you don't have an engine stand, buy one at Harbor Freight for $50. You will have $200 worth of fun disassembling the engine whether it is good or not. Have you ever rebuilt an engine?? It isn't Rocket science. Buy the appropriate book and rebuild it yourself. It really is easy, and if you take your time and follow instructions carefully. Plus, we can help.
I have never rebuilt one before but that was my plan was to learn and hopefully succeed. If I need to send it out for machine work then I'm okay witj that. Any suggestions on if I should leave heads bone stock and just do cam and lifters?