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Just to give an idea of what I have done in the past...I found a great deal on a 944 for $500. It had BBS RS wheels, and a good motor, but the interior had sunrot to almost nothing, and the body was full of bondo. I parted the car out and turned it into nearly $2500. I then took that money and bought a 1996 VW Golf for $600 that needed a starter. I had one in the garage, fixed the car, shampooed the carpets and sold it for $1200 4 weeks later...
That is usually how I have done it. It seems to work, but it is time intensive...maybe just being frugal and shopping craigslist like a hawk is my best bet.
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1984 Porsche 911
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