Go check them out, you'll figure it out. I yanked my first engine in a junkyard with nothing but hand tools and a wheel barrow when I was your age. It sucked, took all day, but I learned a ton.
They often have lifts and stuff available to rent, and you may find some folks hanging out who will yank it for you in exchange for cash money. $400 for a mag 360 is more than fair. Just buying a hone and pistons for the 318 will cost that!