You will need an engine lift to lift the motor out, load leveler to make getting the engine out and back in easier, 2-4 jackstands, for vehicle and transmission, an engine stand to put the motor on after it is out, then you need standard tools like sockets, wrenches, perferably 3/8 and 1/2 drive. You will need a gasket scraper, an oil catch for when you drain it, a can of spray paint to mark converter before you remove the engine for alignment. Snap ring pliers will be needed if the piston are full float. Taking it apart is fairly easy, remember to unbolt heads, intake and oilpan in the sequence that they torque. ENSURE that the main caps, rod ends, rods, pistons are marked because they have to go back on the same cylinder. Now you can inspect things for damage and wear. A micrometer is essential, as well as a dial indicator. You can mike the cylinders, main journals, rod journals, little end of rods. Use a straight edge to check for deck trueness. As far as machining, have it hot tanked, then magnafluxed, this will ensure it is clean and there are no microscopic cracks that could lead to catastrophic failure.
If needed, you can turn the crank 10/10, and bore/hone the block, and have it redecked.
To assemble,you will need a torque wrench capable of at least 150 foot pounds, a ring compressor, assembly lube, silicone and a list of the torque specs. For main caps and the heads, you should do a 3 stage torque process. When the crank is in, check it for run out with the dial indicator.
As far as the heads, you will need a valve spring compressor, ensure that the valves are marked so they go back to their specific cylinder. A head can be checked with the straightedge as you did the deck. It should be disassembled, hot tanked and mag'd, new valve seals are mandatory.