7mge rebuild?

MistaMk3

New Member
May 28, 2010
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Los Angeles
Im 16 and my brother is giving me his 1988 Mk3 n/a to me as a first car. It has mechanical problems but i dont know if i should rebuild it or just fix the issues. Im not sure what the problems are but it burns oil (black smoke from the exhaust), when i rev the engine i hear a clunk, it sounds like a rod knock. how can i fix these issues?

also, around how much would a complete rebuild to new status cost on a 7mge?