It definitely can be done with an engine hoist but you may want to remove the head first then lift the ram/turret assembly to install spacer. To keep the weight down really. Have to be careful the issue with most engine hoists is getting the casters on front legs far enough forward and beyond the CG so it doesn't tip on you. I assembled my BP in the basement using an engine hoist. Had 8' under the joists plus another 10" or so in between. IIR I did need to use the space between joists to have enough clearance for the hook, straps and shackles etc. You appear to be drywalled so that may be a close one. Even using a gantry and lifting from the eye bolt in the ram you lose bunch of headroom to the beam, chain hoist and rigging.