Bought my 88 NA in 1996, paid $5100 for it, as I recall.
I remember that the black 89 I really wanted was goin for $9,000 at the time(!). Back then MkIII's cost alot more.
Drove the car for 9 months before I suffered my first BHG. Didn't belong to any forums back then, and redid the HG, using
factory torque setting. Blew my second HG about a year later. Did a complete rebuild, but the coolant passages were deteriorated
from BHG, and the 'new' motor blew it's HG after 3 months. This is about the time I bought a 'beater'- an 88 VW Golf, for $125, running good.
Great car, that Golf. put about $1200 into wheels, tires, shocks cooling and stereo upgrades, and sold it 6 years later for $1100.
Anyway. All together, I've been through two full NA motors, and two full turbo motors, and about to start on my third turbo motor build for this car.
As everyone is stating, these are not good first cars. I agree that a miata would make a good first car, but I also suggest a Nissan 240sx, based on the same criteria.
If you can find a 240 that hasn't been riced out, it'd be a miracle, but it'd also be a good car to learn on.