A wreckless impulse buy for $900 has landed my little cousin an '84 Rabbit GL. It has 175k on it. I love my MKV Gti, and am totally hooked. The car is in decent condition, but we're gonna need full paint and some body work. The motor runs strong, but deff needs a valve cover gasket. I'm pretty handing cars and have built from the ground up, but I don't know much about this car. I've done some googling, but have been told by the MKV guys that this is the best place to go.
What I need to know:
-What are some mechanical issues with this car that I need to address before I get comfortable driving this car around?
-What are my limits with this little carbed motor? How much power can I pull out of this thing without decreasing considerable reliability.
-If this motor sucks, what is my most frugal, yet rewarding swap out.