Firebird formula street race car project?

I sold a 1988 formula 305 firebird to a friend and he now (after riding in my formula 350) wants to dump his $3,000 of saving into it. The goal is a car that will appear/sound somewhat stock but run in the low 10's on spray. We plan on an automatic(th400 probly) and a gen.1 small block chevy. Plan on selling the stock engine and for $800 so we'll have $3,800 to make this a reality, still will need a cage, rearend, and subframe connectors as well as the motor and trans. Any siggestions on where to start or what parts to go with/buy?