Rebuild

A lot of people will recommend a turbo or efi, but seeing how you are new to motors and whatnot, I'd avoid it like the plague. A mild build will even require a lot of studying to get everything matched right. Don't just go slapping a lot of different parts together, everything needs to be matched. It's like a puzzle. And personally, for a mild street motor I wouldn't be too worried about balancing even. Just my 2 cents.

X 2

Look at what you have tools, time, and skills to complete. It's sort of like carpentry where you measure twice and cut once. Good planning on the front end will save time and money as the build progresses.

For me, I plan to have the engine out of the car only once. I also look at what I can do in-house and what I will need to out-source. I usually have a machine shop "hot tank" the block and head. If I have any reason to believe the block or head is cracked, this is when I have it checked out. Also check to see if bores are worn out of spec.