5K is cheap for a rebuild, but the question really becomes what he is doing for that. Machine work is expensive, and that makes all the difference in the build.
Some things I would ask
- Will he have the block square decked to the mains (actually they do it to the cam, but the align the mains to the cam too)
- Does he shoot for zero deck?
- What does he think about valve seals (He should say I like to cut the guides and use Viton positively located seals)
- Will he be replacing all the valve springs, valves, etc, whats the thoughts about seats (hard seats are good, but you can cheat with bigger valves if it’s not a daily driver)
- Is he pushing you to a hyd roller? If he isn’t, he’s got a lot of guts. Is he changing the cam and lifters?
- Is he just quoting a rering? What exactly is he planning for parts? What is he planning to reuse?
- What’s he think about oil control and a Ford? He should at least have an opinion
I will say that typically I am a more expensive engine builder, but I have very few surprises, and that is a very good thing for both me and the owners. A 5K engine here would likely eat 2K in machine work, 1.5K in assembly and planning, leaving 1.5K for parts. Certainly doable on a stock style rebuild, but easy to cheat too.