I haven't kept up with imports since I first drove a 350 powered, '83 Monte Carlo about 15 years ago. I used to be into imports. I really wanted a Supra. Price per performance is one of the big reasons that imports stopped appealing to me. The prices of these old beat up imports is ridiculous. Under 2k is a good price for a 240 in that condition? Personally, I don't see it. Where's the value? A 238K mile car is gonna need a lot of work to make it look good and perform good.
It seems your heart is set on owning a 240 though and when you've got that kind of desire, nothing other than the car you want will do. If I were you, I'd see if I couldn't find one in better condition to start the project with.
As far as engine swaps are concerned, I know the SR20 is the engine that is really sought after for those cars but an LS swap would be a lot more fun and a lot easier to make power with.