Another day, another V8 powered Mazda RX-7 -- it isn't that rotary engines are somehow not as good as a standard reciprocating piston engine, it is just that if you want to make 300 horsepower to the wheels, the cheapest way is usually with a domestic V8, even if it requires a total transformation of the engine bay. Find this 1986 Mazda RX-7 offered for $2,500 in Topeka, KS via craigslist.
The second (technically third) generation (FC) Mazda RX-7 debuted in 1986 with new streamlined
styling and more power from the available Wankel rotary engines. For
the first time in the US market, a turbocharged version was available, but the chassis featured the same fantastic reflexes and sporty seating.
Under the hood in this RX-7 is a Ford 5.0/302 from an Explorer that has been fitted with GT40 heads, a big intake, aftermarket carb, distributor -- all the basic things you need to make 350 horsepower from a Ford small block V8. It does need to be finished, but for the current asking price this doesn't look like a bad deal.
See another Mazda project car for cheap? firstname.lastname@example.org