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I am going to go the opposite direction here. If you are comfortable wrenching on these, then go for it. If it's in need of a new engine, so be it. I'm seeing them under $10K of late around my parts.
Yes, you need special parts to completely rebuild but you can borrow then in many cases from the porsche community. If you need it to be your daily driver, then that's another story but if this is your project car that you can stand back and be proud of after, then why not.
As info, JFP in PA has a lot of experience so take his advice highly. I've rebuilt an 82 911 engine and the 996 is not the same. But pulling the old and installing the new is not that difficult on a 996.
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1999 996 C4 Cabriolet
1997 BMW M3 (Hail)
1985 928 S (Sold)
1982 SC Targa (Sold)
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