Well, looks like I blew a coolant seal. The car is smoking heavily, and I found a piece of a rubber seal floating in the coolant. I realize I need to rebuild the motor, but I am a bit short on cash. Is it possible to rebuild and only replace the coolant seals for a less? I can't afford a complete overhaul.

 

Yes, its totally possible but do you want to go through all that trouble just to replace the coolant seals? I would at least do the apex seals, internal gasket set, and oil rings bare minimum.