Racing a production car like the Miata is affordable fun.
If you enjoy leading a pack of Miatas then read no further.
Why not consider a dedicated tube chassis race car of some sort?
Consider a platform that from the start was designed for racing.
A tube chassis car will be safer.
A tube chassis will be much easier to work on as it is designed to be serviced often.
Lightweight body panels are easy to R&R and allow open access to all parts of the race car.
You can find some nice race cars for about the price of a very nice Miata race car.
https://www.racingjunk.com/category/Road-Racing-Cars/4
GT-1 race cars are fast and fun.
If the tire budget is tight stick to cars with the more affordable 10 inch wide tires.