The engine is most likely a pile of junk. Tell the owner that and ask him if he wants to proceed or not. Odds are that he'll be into it several thousand before it works right. Tell him to give you some money up front since you will most likely need to buy a steady stream of parts until it is done.
^^ Spot on!
I gave my Dad a hand with a matching number '66 hemi rebuild that was going into a triple digit $ restoration about 15 years ago. There were about a dozen F-ups in that engine that he uncovered when we offered to double check everything for the owner before it was installed. A new set of pistons, cam, lifters, valley bolts,1 MP replacement head, balance job, and two rebuilt carbs later....it was finally right. All found in an engine previously deemed "ready to fire" , assembled by a local rebuilder here in central WI. That would've been a disaster.
