Hard to rebuild a 1996 Johnson 70 HP outboard?

Hi all! i am new to the board and am looking for advice and direction on this motor my Dad has. The motor is on a 1996 16ft Sunbird. About a year ago the water pump went out. He took the motor to a local shop and they disassembled the top of the engine and found that the center piston had a hole burned into it. The shop quoted him a price of $2200 to completely rebuild the engine. I am not an outboard mechanic but that sounded a bit rediculous. He had them place all the parts in a box and he pulled the boat home. The parts have been sitting in the garage ever since.

I am thinking about doing the rebuild myself but this is all new to me. I am a HotRodder by nature and have built several small and Big block Chevy engines but I am sure that this outboard is a whole nother animal. So here are my questions.

1. Is this something I should be able to do?
2. Is there an assembly manual to figure out what goes where during reassembly?
3. Since the piston has a hole burned in it what else do I need to worry about?
4. Does the cylinders need to be bored or honed? Is there a measurement I should be looking for to decide?
5. Where is the best source for parts and pricing?
6. Are there typically rebuild kits that include everything needed?
7. Lastly, If doing this myself what should I expect the rebuild to cost?

I am sure I will have a lot more questions but this is just a start......

Thanks
Wade

Step # 1 is the factory manual.------This is quite a common failure.--------------Not that hard to do.-------------You must read the manual a few times and work carefully.--------It will need to be bored out to fit an oversize piston and rings.