Welcome aboard!
I have a couple of things to contribute. First, a little background-
I've been a car nut since as long as I can remember; as a child, I slept with my corgi and dinky cars parallel parked around my pillow. At 16, I ended up with a Ford Tempo :facepalm: which I drove responsibly....except just once. And it cost me. Hold that thought...
As an adult, I fell for Subarus. Before kids came along, I campaigned a 2.5GT in Autocross and an Outback in Rallycross. I only just came to Volvo a year ago, when said Outback needed an expensive repair (155k on the odo) but was also rusting. Couldn't justify it. I came to know the local Volvo legend, who had a 1998 V70 R for sale. He is a meticulous owner and genuine volvo nut. At the time of purchase in December 2010, the car was a healthy stage 0 and needed nothing.
Even so, in the following months it came to need a half shaft, tie rods, a control arm, an alignment, and is going to need tires soon. So it is soaking up some care and feeding dollars despite being an overall clean, loved and cared-for car. I couldn't care less, I love it, but I might are more if I was on a budget. Actually, I AM on a budget LoL
Anyways, my suggestion is to find something safe and reliable that is also tossable and has good handling. Don't worry about power right now. Spend the money on track time instead, through your local BMW CCA or regional high performance driving school. Use the mod money on yourself; one ride with an instructor and you will poop yourself when you see what impact training has- my first ride along was with an ELF school grad in a rented Infiniti and I thought I was going to die.
My Subarus were all before the arrival of the WRX and were not very powerful, but I had them well set up (lots of STi suspension bits bolted right up

) and I had a ball with them.
Track days are fun as hell, you'll learn a lot, and you'll be a lot less likely to try something on the road, end up swapping ends and ripping the suspension of an '86 Ford Tempo
