800 dollars for that may be ok. My brother got his n/a 5 speed and the engine was going to the crappers, for 800 bucks. The body/interior wasn't even that great.
I'm in the camp of body work first, engine/coilovers/wheels second. This is assuming the car is reliable. Then you have a great looking, reliable sports car that isn't very fast. What's wrong with that?
Then further down the road you can go NA->T or 1J swap. I would do this before suspension and wheels. A stock 1J or NA->T 7M won't overpower the stock brakes and suspension too bad.
I agree the body needs help, but I would work on getting it running perfect, and stopping good too. The body parts you need will come around, and with it being white, a spray can or two will get you by until you are ready for paint.
I'm all about what you're trying to do. When I bought my car the first thing I did was rebuild the motor. Then I bought coilovers, MKIV TT rims with nice tires, sway bars, and now I'm working on body myself. It's all your preference man, do what makes you happy.
One thing I can say is that since I've done the body work it sure makes me a lot happier to LOOK at my car
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