It 's going to be hard just to rebuild an engine without useing some new parts, such as rings, bearings, gaskets,and the machine work required. That said getting 350 horse power ,in my opinion, would depend on what is available in the junk yard. it is possiable, I guess, but highly unlikely. as for tools, a good basic hand tool set plus a good clicker type torque wrench would be a good start. good luck don't get discouraged we all started some where. Carlg