Alright, so I went to pick it up and checked my oil when I got there. It's got too much oil in it(oops). So I'm going to drain some out tomorrow since it's too dark to do anything tonight, and I'll see if Auto Zone will let me use a compression tester. The rest of the tools I'm pretty sure I have somewhere.
Thanks for all the help guys :) I'll let you know how it all goes. And thanks for the in-depth explanation Phlebmaster, that's just what I needed. I can now visualize what to do annnnd will do that tomorrow after I drain the oil.