I agree with everybody here, but, for $50 USD, it can be a great lab puppy to learn engine rebuild. Regardless, whether its a 4-bolt, or a one-piece seal. Rebuilding procedures would be the same. Take plenty of pictures.
It's a great start to learn, get experience, and practice, especially, what NOT to do and what TO do on your next project. If it needs a crank, crank kits are cheap, approx $100 USD, even locally. If the block is good, then an engine kit would be in order.
The worst part of the whole job IMHO, is clean-up. I'd rather pay somebody to do it.
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CUBS - 2016 World Series Champions - Thank you, Joe Madden … enjoy your next chapter.