I may scrub a few beards here, but.......

Since you just got out of school, and are in need of getting your work career started...
I would not bite off a big project to start with...
Go out and look for something 4 or 5 years old that falls within your price range 'that will be a future collector car'...
Make sure to buy one that has not been beat to heck...
Nice Camaro or Firebird (they will be as desireable as a '57 Chevy someday)... Maybe a 5.0 Mustang...
Sure, there are a lot of them...but.
Summit, Jeg's, and Speedway will keep you semi-poor without busting you for real rare crap.
Get your feet wet, go fast, have fun, hang with the grizzled old hot rod coots... Sooner or later you will get a real hot urge for what you want and a deal may fall in your lap.
Keep it real mild, driveable, and reliable.
Make it whoa first, look good second, and go fast third..
Make sure it will get you to work every day without fail.
Keep learning and growing. Get the job that will take you to a higher level, and then step up your ride....
Welcome to a lifelong addiction of the best kind!
Jeff