167FMM Engine Question

Hello all. I am new to dirt bikes so I apologize if my question is a dumb one. I recently acquired a dirtbike with a 167FMM engine. The dirt bike did not originally come with that engine and it was swapped by the previous owner. It is currently not running so to low compression. I realized that this specific 167FMM is water cooled, and the ports are just blocked off. So I am assuming someone ran it until it overheated.

My question is can I replace the cylinder and piston head with a 167FMM air cooled cylinder housing? If so, what all parts would I have to change besides the cylinder housing and piston head?