
Pull it apart, see what needs to be replaced order your parts & put it back together. Definitely put a new water & oil pump. If everything looks good you can stay on the cheap side by just honing it and replacing the rings & bearing. Or order a rebuilt kit, have it bored out and put new pistons in it. The rebuilt kit for my 22re was $1200 and I spent $800 at the machine shop (torque plate bored & honed, decked, magnafluxed, heads milled, ported and bigger valves & valve springs installed, painted with new freeze plugs). That was 8 years ago and still running strong.