Turns out the 4.9 needs a full rebuild, I thought that only one cylinder was bad but that's what I heard from my dad who clearly didn't understand what my friend/my dad's full time mechanic was saying. Also considering an LS swap given the cost of a full rebuild.

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Current: 1975 450SEL, 83 300D, 88 Yugo GVX, 90 300D OM603 swap, 91 F150 4.6 4v swap, 93 190E Sportline LE 3.0L M104 swap, 93 190E Sportline LE Megasquirt, 03 Sprinter, 06 E500 4Matic wagon.