If renting, yes, one day to remove the engine and get it on an engine stand. Then one day to reinstall the engine once you have it rebuilt. Or see if you can borrow one from a fellow Cruiserhead. This is where being a member of the local Cruiser club comes in handy. Plus you can get help...
Another feature to look at is the length of the boom. A lot of the newer engine hoists do not have a long enough boom to reach into a Land Cruiser engine compartment and lift the motor/trans/t-case out. Sure, the boom telescopes, but if you have a typical hoist boom fully extended the capacity...
Waiting is a better choice. Look on www.car-part.com - that t-case ranges from $100-$300 here in New England.
The t-case in your pictures will also need a rebuild given the bearings being covered in dirt and dust. I've bought used t-cases from the recycler that I could use as is.
You might luck out that the PO had no clue how to adjust the valves. But I would still at least pull the side cover then the lifters, one at a time. If all looks decent you will at least have the peace of mind you looked rather than wondering "what if..."