1987 Dodge D150 pickup 5.2l 318 cid

I appreciate your enthusiasm but you need to take a deep breath and come up with realistic goals and a concrete plan.
Heres a DIY thread on transmission rebuilding.
Easiest 727/904 rebuild thread...
That will Definitely help educate the OP, but do you honestly think he can handle that? If he has the time, the patience and a place to do it, it would be a great opportunity for him to learn the hobby! But depending on certain situations you may be better off for him to just pull it and take it somewhere ( if they're still reasonable), the guy that did mine was a Chevy racer he was running a transmission shop still is I sent a friend of mine there to have the transmission done in his little tiny Buick it was 1200 bucks he charged him when he seen me and Doug get out of the car with a torque converter and a transmission in the back, he said give me $300, but to-get a warranty to converter needs to be new. That's when I took to used B&M hole shot that come off the back of a 360 that was in a guy's Cuda, that the heads on my 340 are now on, guy charged me 200 bucks to cut it open and look at it he felt bad he had to replace one thrust washer only because it was slightly worn if it was his shop he said he wouldn't charge me a damn thing.. I still ain't ran that converter yet but I'm thinking about throwing it in the car problem is I want one of them 3500 tights to me it's a lot of work but then again then converters don't even seem like they're available and they're right up the road in Jacksonville! Like Brother Rob says "there's no better part than the one you already have...."