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Beams is awesome but you are at the 4age level with your experience and budget. Keep the Beams goal for another day. Budget is pretty thin IMO, you will spend twice that to install and maintain a 4age engine. Especially if you aren't a guy with a welder and fabrication skills yet. 16v 4age are all old now, you'd be hard pressed to find one that didn't need work to freshen up, and you could even say the same about 20 valves now, with the last ones being made well over a decade ago. Beams would be ten grand when done, easily. There are gearbox length issues to overcome, tunnel sizing, mounts, fuel system. Brakes unless you want to die. Easy 10k DIY, or 25k at a shop. SO the 4age, if you can find a motor and box for cheap, Id try to use carbs on it. Fuck efi, just use an ecu for timing and disconnect the rest. A simple Weber or some solex carbs and tune it. No need for fuel system, sell off the efi bits for the 4age that people want and then you can probably hit your budget. You can use the standard ae71 mounts and crossmember and pedals. 600 - ae71 parts 1500 motor and box 1000 carby and jets 800 - Exhaust, Radiator, hoses, fans, wires, clips and miscellaneous bits and pieces. 500 Programmable ignition Bit over your budget but you would get to sell a few bits off the rwd 4age like the inlet manifold -$220, the Map sensor - $40, the injectors - $40, the engine wiring loom - $200 if you were going use carbs and not efi. The beauty of the carb system is that you dont have to rip out the tank and fit an afi fuel system, which is one of the most un enjoyable bits and a costly exercise.

Becareful coming all guns blazing.....I am all for good discussions, but you might put people off:) I've never heard of anyone say engine run on is because of advanced timing, like you say the second you turn off the key the spark plugs stop. The most obvious cause of engine run on is when the engine is so full of burnt carbon that the carbon stays hot enough to ignite the fuel mixture that is still being drawn through the carby. And this is either caused by residual fuel between the carby and engine, or that fuel solenoid valve sticking on. Running a heap of "seafoam" or "subaru upper cylidner head cleaner" through the engine will take care of this carbon and put an end to the running-on issue. All my engines have always had the head off and cleaned early in my ownership and ive never had any dieseling issues. In fact all the years playing with carby engines ive never had dieseling issues. The only time ive ever seen it is on engines that are completely stuffed and is a miracle they run at all. Maybe prolonged used of overly advanced timing causes excessive carbon build up? Maybe that's where the myth comes from. Never ever heard of it myself though.

What starts out as a cheap/free 4k, can end up costing a few grand when you get carried away building a track engine