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My two cents now that we are getting to know Vernonster00 a little better. Let's say your parts alone will run $2000. A very rough estimate for the cost of installation is to match that, another $2000 (extra smaller parts, shop fees). Your up to $4000. I strongly agree with bad_idea that it would be a good idea for you to put that money into a southern Cherokee with very limited rust and healthy suspension. I lived in Up-State New York for the first twenty one years of my life and know how rust can penetrate a vehicle. I bought my Cherokee in Virginia six years ago, it had lived it's twelve years in the Washington DC area and had virtually no rust on it anywhere. Cherokees like that are still available and affordable. Good luck and have fun with the hunt if you decide to go in that direction.
The first picture was taken the day after I bought it. The second picture is a few months later showing the installation of my spare tire mounting point which is right next to the rear cross member. Six years later and the underside is still pretty much rust free but with a coating of grease and mud.
Yes, replace the suspension. It's worn. Whether you keep the OEM style or lift, replacing is a good idea.
SOAK everything - yes, EVERYTHING with a penetrating lubricant like CLP or PB Blaster, and start doing it at least a week before you think you're going to put a wrench to any part of the Jeep. Re-apply the lubricant at least once a day to help free up the rusted nuts and bolts and to help prevent breakage (which can be a nightmare).
While you're under there, consider hitting all the rust you can get to with a wire wheel, wire brush, steel wool, etc. then coating the now raw areas of metal with a coat or two of primer, then a coat or two of paint. Rattle can stuff will do fine. You want to prolong the life of the body and frame as much as possible.
In addition to soaking, have a torch handy. It doesn't have to be a welding torch. A $35 Map-Pro torch will do. Some of the bolts in the suspension were installed at the factory with red Loctite, which resists coming loose without heat. A lot of the broken bolts that people assume were rusted in place are actually being held in with red Loctite and will come out quite a bit easier if you hit them with the torch.
