Hi YZ250,
Welcome to the board!
First step, buy a service manual for your bike, then read through it. All the information that you seek is right there.
You'll have to open up the engine to see how much life is left on your engine. Lucky for you the two stroke is a very simple engine to fix, even for beginners.
Before you take it apart you could do a compression test, that will give you an idea of how well the engine is doing.
Did you buy the bike used? New? Have you done any work to the bike yet?
Have you cleaned, oiled and greased the air filter? This one habit done after each time you ride will help your engine to last a very long time! The folks that have problems with their bikes forget this one thing. Dirt is the enemy of your engines internals.
Write back and let us know how far along you are and a bit about the history of the bike. Then we'll try to help as much as possible.