Subaru's have notorious issues that require a bit more $$ to make north of 600 (Billet block..)..
Lots of other options out there that will get you there cheaper/more reliably... Honda, Audi, Cheby, ect.
And I agree with CHris, you'll need some serious rubber to put it down.
Dad is about 2 weeks away from really getting some seat time in his LS turbo 914 which should be about 500-700whp depending on where he wants to land the power numbers (He could turn it up to 1000WHP, but we all know it just wont handle the power). This is a chassis with 315, race rubber, fully cage, and about 100k worth of work done to it... Not to mention a $15k trani/clutch.
https://www.youtube.com/watch?v=Rq42jvpTJo8...VoMhuzSM-Fd7AvoGet a ride in a 500hp 914, Plenty of those out there and is one hell of a ride.
My Audi turbo 914 is about 300whp right now and I have a real problem with traction and things will only get worse as I turn it up.
Also, whatever you think your budget is, double it... There is a lot involved in these kind of things and the little stuff adds up fast.