The LIFTER is dead. Is this a major overhaul or is there something else I can do?

Could be as simple as a bad oil pressure sending unit or as major as an improper overhaul. Hook up a mechanical oil pressure gauge to see what is really happening.

This is a job best left to a pro, If you don't have the experience in major engine overhaul. this is not something you really want to do in your driveway. 1st step is to remove the engine from the vehicle.

A lifter that is sticking is an upper enging overhaul, this is goinig to cost about 1000 dollars

Actually you cannot tighten a noisy lifter. only the rocker arm assembly and it should be torqued at manufacturer specification. There's not much you can do for a noisy lifter except major engine overhaul. You can try aftermarket oil supplements that are available at most retail stores, including Autozone.

Have you checked the oil level on the dipstick? Low oil would cause the lifters to make a ticking sound. This noise will be coming from higher in the engine like under the valve covers. If the oil is full, you may have a lifter that is sticky. There are products you get at any auto parts store to add to your oil to free up sticky lifters and quiet them. However, you said it's a knocking noise. Knocking would also result from low oil level. Seriously low! If the oil is full and you have a knocking noise, it could be main bearings, connecting rod bearings on the crank or the pins on the top end of the connecting rods that hold them to the pistons. It could also be the piston skirts banging on the side of the cylinder due to worn rings. Any of these knocking noises would come from lower in the engine like in the block. Again, there are products to add to your oil to add extra cushion between surfaces to quiet this situation but you may not be far from a major overhaul. You didn't mention how many miles are on the engine but very low oil levels could have damaged any of these parts quickly.
Hope this helps. Good luck. I hope it's low oil or stciky lifters.
TG

can be a big fix. youmay want to try a motor flush (engine oil)

Hi, lifter valves cannot be "reset". I never heard of lifter valves being reset. When they are worn, you need to replace them, engine overhaul.

It depends on if "they" went to school with you and are willing to cut you a deal. It can be very pricey if they don't like you.

There are to many things that may have created the problem. Best thing to do is go to Auto Zone or Parts Source and have the Montana Computer scanned.
Believe both parts store will scan for free so you know exactly what parts you need to pix the problem.
It could be something simple, Good luck and hope this helps

in this case the battery is dead also check the alternator