Need Manifolds, turbo outlet collar and turbo work

[Ducaticorse]

I have a 99 7.3 DRW Dump that I purchased this summer cheap. I am trying to decide whether it is worth putting money into or just keep it the way it is.

Truck has 54K original miles on it. Body is in great shape, frame has flake but nothing structural.

The manifolds are paper thin, and the passenger has a nickel size whole in it. turbo outlet collar needs replacing. Truck is very loud and quite frankly, annoying. Problem is, ALL head bolts are completely gone. No way to wrench on them.

Turbo (wastegate?) seems to be sticking open, (getting a loud hissing noise from directly behind the dash when truck is cold, noticeable drop in power, and when I get on the gas the hissing stops, power comes right back) This condition also leads me to running the truck at idle for close to twenty minutes or so in order to warm at first start of the day.

I would love to put reasonable money into this truck, but I am afraid of getting an absorbent bill for these repairs due to the amount of rust on the manifolds, fearing it is going to be a nightmare getting them off.

At this point in time, I feel as though it would be best at this point to drop the motor and not even attempt to do the work in chassis.

I live in MA and was hoping someone experienced may chime in on about what I am looking at financially here. I would love to keep the truck, but if this job is going to be upward of say $3k, I have to strongly consider going a different direction...

Thanks all.