Buy it, then sell the motor and tranny (once you get the motor put back together and working right), then do a motor swap. Your budget determines what motor you should go with. The 2JZ is a great platform to work with. has a vey stong bottom end (good for 800 HP on stock internals), and has a massive aftermarket. You could stomp your dad easily if you do a 2J swap, put a big single turbo on it, upgrade your fuel system, get a strong clutch, and get some good rubber in the rear. That'd be the quickest way to whoop your dad, but like I said, money determines power.
Nothing wrong with buying a clean car for cheap if you're going to do a motor swap. Hell, I bought my clean 1987 N/A hardtop shell with no motor, no tranny, and a mint condition interior. In my Supra's former life, it was an N/A auto (like your car). Now it has a 1JZ-GTE 2.5 liter twin turbo with over 300 at the wheels. If the car is clean, and all you have to do is put the head back on (hopefully no BHG) and do minor work to get it running right, then sell the motor, tranny, and driveshaft (you will need a 5-speed turbo driveshaft when you convert), you'll have paid very little for the car. Then all you have to do is swap in a motor and tranny and upgrade.
Cheap, Fast, Reliable
You can only choose 2
Adam
P.S. look at my build thread to see where I started and where I'm at now
