6.0 project truck. Need advice!!

This is kinda long, sorry!!!
Okay so i picked up a 02 2500hd 6.0 4x4 from a guy who said it sucked in water needed a new motor. When i popped the hood it looked like it had been soaking in mud for a week, EVERYTHING is covered. turns out this guy was mudding and the truck has NO INNER FENDERS. Also the intake tube is missing and we had to tape mass air to the throttle boddy to start.

Anyways we started the truck and it fired right up but ran like poop, when he revved it it popped a little out the exhaust. it didnt smoke till he decided to hold the pedal to the floor to try nd load it on the trailer. it blew some blue/white smoke for a few min but only does it when gas pedal is held down. i never heard a knock or any bad internal sounds. it actually sounded stong and would idle.

my guess is the bottom end is fine and there might be some valve damage but slight since these no sound comming from motor. Im also thinking a lot of the reason it runs like crap is a bunch of sensors are messed up from the mud bath ( the oil pressure sending unit is sending bad signals) and would prolly run better if the mas air was actually hooked up right.
Also he said he changed oil and there was "only a little water in it"
it does not blow any kinda smoke at idle or when i ease on the gas.

so what do you guys think?? What should i do first?

Thanks

give it a bath? haha clean it up some to start with. So you can know what you are really dealing with.

well ya lol. im going to have to post pics of this thing its a mess. is there anything to be careful of when washing the motor?

if the pistons or piston rings were screwed up it would smoke all the time right??

sounds like you can't do any more damage but for obvious reasons cover up the intake and avoid soaking the electrical stuff too much besides that I'm not sure but shouldn't be too bad.

Thats what i told my wife, but if i had told her that and then been wrong ida been grounded.

hmmmmm true story wifies are fun like that.....

JW what did you pay for this project?

I paid $2500. its an 02 2500hd ext cab, 4x4, 4in lift, 17in rims(really nice), good tires(33") nice interior once i get all the mud out. only dent/ scratch on the truck in on tailgate. Ill try to post pic




I dont know anything about these trucks, did i get a decent deal or not?

Holy S***! That's a dang good deal if you ask me. Its a little less than I expected. You would make good money parting it out. Depending on how much money you have to dump into it should turn out to be dang near a steal. Could turn out to be a real nice rig. I want to see more pix.

After cleaning it up,
get a new intake tube on there (CAI can be found on ebay for less than 100$),
change your fluids again even though he said he already did it (oil, coolant, etc)
Start it up and let it run see if it runs the remaining water out.
If its not making much noise prolly not hurt too bad bc these trucks make a fair bit of noise in stock form.
Do a compression test.
That should get you a good idea of where you are at.