Shawn the best advice I can offer would be to try and have someone with more experience help you decide what is good and what is bad with this engine before you do anything. This in no way is a slam on you. We were all new to this at one time and needed help too.
I am also concerned with the length of time the truck has been sitting and how it was left that way. Cat Dog brings up some very important things with regard to water left in the engine, parts frozen together with rust, etc. Another thing is the condition of the rubber and steel brake lines, master cyl and wheel cyls, in otherwords every important part of the truck might need money spent on it not only to make it useable but to make it safe.
I certainly don't want to condemn the truck because I haven't seen it but I would not want to see you get off to a bad start thinking this could be an easy or inexpensive job. $1000 doesn't go as far as you might think once you get into a job and worse yet if you spend some of it and find the truck is beyond what you thought you wanted to spend or repair then that money may well be lost too.
I'm sure the rest of the guys here will be willing to offer suggestions and tips as you progress so ask away! But please do yourself a big big favor and have an experienced guy look it over carefully. Maybe the local tech high school auto shop teacher or a friends father or older brother who makes a living at this can get you going in the right direction.
Mike
