A "318 detroit" is a 8V71 Detroit Diesel. They were a supercharged two stroke engine, 8 cylinder, V configuration, 71 cubic inches per cylinder, which typically made 318 horsepower when used in trucks.
The two stroke Detroits were made in many different sizes, configurations, and hp ratings. To confuse things a bit, truck engines were often referred to by hp rating, but the same engine in a piece of equipment would by named by the cylinder size and configuration. A "238 Detroit" in a truck, with 238 hp, would be called a 6-71 ( 6 cylinder, inline, 71 inches/cylinder) in a piece of construction equipment. The engine is the same, although the accessories were probably different. They were made in 53, 71, 92, and 149 series, with the numbers being the cubic inches per cylinder.
To rnh1, I would sure check the bottom end before buying a motor. Detroits make a lot of noise anyway. Even a bad injector can make one sound like it's about to fly apart. You need to get a mechanic with 2 stroke Detroit experience to look at it.
john