If it were me I'd dig deeper now and make sure it structurally sound Before going crazy for h.p.That seems safer to me,and remember that 4 k for The turbo 450 h.p. Will need better trans mission,frame reinforcing,upper an lower rear control arms,and much more money to say the least.This is my gift of two cents to you.
Forsure additional mods required but it never made sense to me to build something with less power if the potential is there for more right from the get go. The spending on cars never stops and after the turbo ill need more things to dump money into as you mention above, but it allows for low boost for moderate power and ability to turn it up when support is completed or breaks.
On the rust side of things. Digging in as much as I could without cutting it open didnt warrant any reason to. Hammer and screwdriver taken anywhere bay or well side without even a scuff on the metal. If my k-member falls off one day I'll take another look.
Rust check and painted. Area by area as time permits. Got one side cleaned up tonight. Pass. side this week then firewall next weekend hopefully
I was in the same boat, twice. When I first bought the car it looked like yours and I just had it painted and left the shock towers. Fast forward several years and I decided to do a wire tuck, suspension and HCI. Well the cancer had worsened over the years so I decided to fix it. Before and after pics attached. Not a body guy either but it was well worth the effort and now I don't feel like I'm modding a car as it dissolves anymore
So the bay is all cleaned up and back together. Forgot pics sorry.
I have been trying to source this on3 kit, but since i can't drive over the border and pick it up the shipping & duties are about $600 which is a tough pill to swallow. Still working on sourcing this. Downpipes are also out of stock right now.
On another note a guy on kijiji is selling a Pimpx v1.1 for $450 CAD, hoping to get it for $400.
I was originally looking microsquirt with the harness adapter from EFISource but this to my knowledge is superior (please correct me if this will not work well) but i am cautious second hand with second hand stuff. Anything to look for as a dead giveaway for damage or is this too high risk to chance?