Stay away from that RX-7 like it's the plague. In my area there are a few FCs that are in perfect running condition, decent exterior, perfect engine, decent tranny, but almost all have some electrical problems. You should be able to pick up a car like this for around $1500. Motors can be rebuilt here, depending on what went wrong. Otherwise we'd have a sh!tload of useless FDs and TIIs laying around. Usually you can get some prety fresh motors from japan, especially j-spec TIIs, and the 20b 3-rotor.

I've actually never owned the original RX-3. Looks like you guys haven't heard. Mazda has a concept called the Kabura. Its a 2 seater, RWD coupe rumored to have a rotary, although some say it may come with pistons first and a rotary later. If this car comes with a rotary, it will probably be called RX-3. Should be super light weight. More info should start flowing next week when Mazda shows the concept at Detroit.

So far i've owned some early 90s subarus, rx-7s, and a last gen prelude (my dd). Nothing special, but all have been reliable. I figure it's time to work in a classic american car with mad power potential.

 

Welcome to the forums. You will not be disappointed getting a mustang there are plenty of aftermarket parts for the new Stang to break your piggy bank.
I had a couple of 1972 RX-2's the ugliest cars you ever saw but man they could roll.

 

I havnt owned a rotary car but i have heard some good stuff about them. High rpm cars which always sound mean. but i like the V8 for my sports car. the rotary might be a good work car. LOL

 

To me, rotaries have 4 qualities that keep me from letting go. 1) They are almost completely different from piston engines, yet they are not too complex to understand. In my mind rotaries are an evolution of piston engines, however, rotaries need more R&D and time to be refined. 2)They can be packaged and placed in a location that will always deliver superior handling capability. 3)Rotaries can rev effortlessly and smoothly. My RX-7 has an 8000rpm redline, the RX-8 has a 9000 rpm redline. 4) The 787B 4-rotor rotary race car won the LeMans 24hr race in 1991 proving that rotaries have what it takes to compete, and the RX-7 has been very successful in racing as well. In fact, the last generation RX-7 is considered one of the best handling cars to ever come from Japan.

Obviously there are two sides to a coin. The rotary has some shortcomings that don't make it the best choice for many people. If you ever think about getting a rotary, do your research.