Not trying to kill your "BIG" dream.. But Cosmo to be competitive at a drag strip means, not so great cruising machine.
Not sure what you paid for.. I'm sure pretty cheap as I've seen few 20B cosmos going for 5 to 10K.. But I think you'll spend triple or more just to be par with some old school rotaries that weighs 1/2 of the cosmo and make half the power.
To be honest with you, as I say this to other guys who tells me, "I'm going to build the ultimate car".. When you get into it, its very tough to do when either money is an issue or time is an issue... Just wanted to point that out to save you time and headache.. And not to kill your "BIG" Dream...
HERE IS a quick break down as this is similar to my FD 20B project..
1. Rebuilt - $8000-12K.. Why you need it?? Because its restrictive from factory and 15 or so year old seals... Or plan to either get new turbos when the seals go.
2. Turbos and such - $5000-10,000.. 600-1000HP will make you competitive with 400-700HP RX7s. This means you need some nice turbos.. Preferably ball bearing turbo that will spool quick
3. Clutch - $2500- 3500 My Exedy twin plate costed me about 2500
4. Transmission.. - $500 - $5000 - Don't know what will fit but I'm guessing cheap FD or FC tranny will cost at least 500... If not, some custom built or dog tranny..
5. ECU - $2000 - $10000+ - Again, cheap side will be around 2k.. I'm sure Motec or something will be beyond 10K with all the accessories.
6. Wheels, tires, suspension, and wide body - $2500 - 10,000... I already test fitted some wheels on my Cosmo.. So far my 10.5 wide SSR comps barely fitted.... And to put the power down, I'm guess you need tires and maybe custom wide body.. And you might need a solid rear axle..
7. Brakes - $1000-5000 - You would have to get the car to stop from 130MPH trap.. LOL! Most will have to be done custom.. I've been looking into this..
8. Safety - $2000-10000 - I would want to race any cars without safety.. My life is more important... A custom rollbar, seats, harness, etc.. could all add up..
9. Misc.. - $2500 - 10000 - You'll realize you will need few things you didn't think of.. Custom exhaust or gauges, tuning, boot controller, etc... It adds up..
And finally all the labor.. Which if you do it all, I guess it will be bit cheaper... But most FD 20B owners say, you'll spend close to 30K USD for a conversion..
**FYI... I know I paid far FAR more than what these things go for in Canada... But I know I paid for it being USA street legal... I bought it for the uniqueness.. Otherwise, I would never buy this for any kind of performance... Because what I've paid, I would of gotten something far FAR better out of the box.. **