Why don't you check the compression and see what you have ? I just finished rebuilding my engine so I will give you my findings... My tractor had about a compression of 30 on two cylinders and 60 on two. Burned oil at a good pace. Was a bear to start, which required turning the motor over while choking for 10 seconds, then turning on the ignition. But the tractor ran and I was able to use it for mowing. Finally I got motivated. Total parts cost me under $250 (which included everything...sleeves, pistons, gaskets, bearings, etc). Getting my crank turned cost me $100. The key to making it easy is getting a manual and having the right tools. The engine is about as simple as it gets. My biggest problem was removing my old sleeves, which required welding a bead to shrink the sleeve, then hammering them out. Other than that, the job was a breeze. The question you have to answer is...how much can you afford and do you have the time? For me, the project took about 5 days working a couple hours each day in the evenings...by myself. Or, can you live with what the tractor is giving you now ?
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