I know this isn't what you WANT to hear, but you'll spend far less just buying a car with a turbo already. For the time and money you'll invest, just buy a 1st gen (90-94) DSM (Eclipse, Talon, Laser) for under $3,000 complete with turbo and all wheel drive.
If you want something fun, but a Dodge Colt. I'm not kidding... In 89 they made 1500 Colts and Mirages with a 4G61t (1.6 liter, turbocharged destroked version of the 2.0 4G63). Well, with a few bolt-ons, including a Conquest intercooler, DSM injectors and fuel pump, AFC, etc, my friend's will walk away from my VR4 or my EVO and still get 30+ miles to the gallon. Kinda funny to humiliate C5s in an econo-box. If I'm not mistaken, any 89-92 Dodge Colt or Mitsu Mirage will accept the 4G63 as a drop in. You can get the car on trade for a pack of gum, pick up a complete 4G63 for $1000-$1500, find an ECU and have a car that makes 200hp (with no mods) and weighs in at under 2500 lbs. Oh, forget about ever using 1st or 2nd gear, my friend's blows the tires off from a roll in 2nd...
http://www.4g61t.com/forum/portal.php