as a similar story to the 260z. I bought a "race ready" car with log book. I have spent now 3 times that price making it legal and getting it on the track. However I am happy with what I have now, even if it won't be competitive.

lesson learned. It is smarter fincially to buy a car, however make sure that the car is atleast close to what you want. This is the mistake I made. Basically the only thing that I kept from the old car was the rolling chassis and spares.