1997 Ford F-150 RWD, Transmission-Truck won't go Forward

My transmission shifts smoothly, no hard shifts or sputters, the transmission fluid level is good, and the truck engages both Reverse and Drive. However, now after driving maybe 3-4 blocks away from my house when I come to a stop sign and then try to accelerate the truck only revs. It'll "try" to go forward as the rpms get higher but it just rolls like its in Neutral. The truck will go in reverse but not all the time now. The weird part is if I cut the truck off for about 5-10 minutes the transmission works again and will engage both Reverse and Drive. However, again I'll drive about 3-4 blocks and after coming to about 1 or 2 stop signs the truck won't go forward anymore. A few shops want $1500-1800 for a rebuild but I don't think it needs a complete overhaul. It was already rebuilt 3 yrs ago (I no longer live near the previous shop) and while driving the transmission shifts smooth. I apologize for such a long post but I could really use some sounds advice. Otherwise, this old work truck is going to sit in the yard for awhile.

-Thank you.

Added (1). I decided to recheck the transmission fluid so I let the truck idle in Park for about 20 minutes and then ran thru the gears and checked the dip stick and it's sitting perfect right at the hatch marks, no burn smell, nothing. The transmission is engaging every gear right now as well. PRND21, all gears are doing what they're supposed to as if nothing is wrong with it but I know if I leave my driveway I'll end up stuck on the side of the road again.

Lhyedfvy

I'm embarrassed to ask if you've checked to be sure the transs is full of fluid. Check that and smell it to see if the fluid smells burned. I'm NOT a mechanic! If the fluid is low, carefully fill it, if it smells burned, get the fluid and trans filter changed. It'll cost you $250.00

Possible crud in the pan or burned clutch particles that get sucked gradually against the filter causing restriction then fall back off when you shut off. Pull the pan filter and confirm the valve body bolts are tight!

I mean I guess just check the engine, but then again that might not even do anything

That vintage might have C6, the E4OD was about 1999. Torque convertor lockups problems existed on some GMs that vintage. Was rebuilt 3 years back? Maybe check main band adjustment, sever city service meant 25,000 check and adjust new and that applied to rebuilt with some band and clutch pack new, needing final adjust after some wear.

Go backwards

Take it to a garage and get the fluid pressure checked. Fluid pump could be toast and you need a new transmission. It can also be just a bad main pressure solenoid. Check for codes with a scan tool.

If after a few minutes of driving then it stops the filter is clogged with debris. Something in the transmission is gone filling the filter. Find local shop at ATRA.COM for more help

I'm not sure

Shot in the dark but I would check for any electrical problems that might be intermittant. I'm not familiar with your truck but it sounds like an electrical problem.
Faulty ground connections can haunt older machines.