Axel, using the information you provided put me in the right direction. I think I have identified all of the parts including gaskets, hangers, clamps I need for the exhaust. Overall Looks like a budget of around $550.00. this is mostly all stock level replacement as a starting point. Here is the list of parts
Walker Catalytic Converter (Ebay) $100.00
Part# 15036
Walker Muffler for Pickup Mazda B2200 Truck B2600 B2000 1986-1987 (ebay) $72.00
Part No: 43094
Stainless Steel Exhaust Header Kit for 1986-1993 Mazda B2000 B2200 2.0L 2.2L (ebay) $172.99
Part# EH28920-2-OS
Walker 43094 Exhaust Pipe for Mazda B2000 (Pre-Cat Pipe) (ebay) $51.00
Part# 43094
Walker Exhaust System Insulator for Brackets Flanges Hangers vx (qty4) (ebay) $11.28
Part# 35460
Walker Steel Exhaust Tail Pipe (oriellys) - - $41.99
Part# 45916
Exhaust System Hanger Insulator for Mustang, 929, Thunderbird+More (ebay) $15.00
Part# 35637
Exhaust Pipe Flange Gasket-Connector Gasket Walker (qty3) (ebay) $10.00
Part# 31367
Walker Exhaust Exhaust Clamp High-Quality Auto Part, Universal Fit for M (qty2) (ebay) $11.00
Part# 35343
TOTAL Exhaust BUDGET- $552