My motor recently went out on my second gen Mazda. So I went to the junkyard and was lucky enough to find one with good compression. Assuming it's been sitting for a few years is there anything I should do to prep the motor as far as putting some sort of lubricant in the spark plug ports and turning it by hand?

 

If the compression is good, as you say, then there's not much you need to do other than place some oil in the plug holes on each rotor and rotate by hand to distribute the oil before firing up the car.

 

May want to pressure test the coolant portion of the block also. It could have nice compression but still have a failed coolant seal.

 

How would i test the coolant seals?

 

Pressure test the coolant ports on the short block. Some people have made a block off plate with a nipple for the water pump housing ports on a short block to seal and pressure test with.