newbie suffering from google fatigue, considering a purchase and conversion Options

[jkhinch]

Hi,
I've tried hard to do my due diligence before posting a simply clearly newbie question like this - but giving up the ghost.

Here's the deal. I've located a 914 that I think is in decent shape. By decent shape, I mean my wife doesn't think its in decent shape (i/e - its not ready to roll). It only has one rust hole. The interior is stripped out and ready to be painted. It has a 1.8 ready to be carbed. The interior has bee displayed so I can see that its in acceptable shape.
Priced in the neighborhood of $1500.

i've also located a low mileage turn key 97 Subaru 2.2. For in the neighborhood of $500. I thought nearly doubling the hp sounded good.. but I'm suffering from forum fatigue and now can't tell if I'm getting way over my head ..... only to later wish I'd dropped more hp in.

Furthermore, since my M.O. is to get bored of a vehicle after 4 or 5 years, what is the reasonable value for a non-v8 non-stock 914? If I pick this up for roughly $2k, paint thoroughly for $2.5k, add any conversion needs I can't have fabricated myself... do I have a prayer of recuperating the cost or close to it at some point in the future? I clearly do not have the budget for a complete kit.

Thanks! Josh