Major motor trouble?

I was on my way home when suddenly my motor started ticking badly and it lost all power. The motor revved high then there was smoke, or steam completely engulfed the truck. It smelled of fried oil. I had it towed to my house. It sat for a few months after I drained what looked like mustard out the oil pan. I took the intake off, and I found mounds of crusty black debris and what appears to be water inside. I am really attached to the pickup. I want to attempt to rebuild but money is tight, so I aim to just get her up and running.