Your cheapest option is to get a premodern bike ('91-'95) that's already set up to race. You pick one up for under $4K ready to go and you can race St George, PCRA and even FX retro if you want. Check out Rick's old GSXR750 for only $3,800.
The problem with old bikes, especially old two strokes is that they get very expensive to fix up and maintain. The two most expensive bikes in our garage are the RS125 and the RDLC350.
If you really want a smoker, the cheapest option is a period 6 or premodern 250 production bike, since there are still heaps of RGV's out there and parts aren't too ridiculous yet.
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