In the meantime, why not drive it and enjoy it in it's current state while you accumulate the necessary parts and funds for your intended upgrades.
That helps a lot. I think you have realistic expectations given your budget. It sounds like the vast majority of what you're doing is replacing old parts with new. None of what you've listed really requires special tools or equipment.Longer-term, the vision is an LS3 E-Rod Connect & Cruise with the 4L65-E, 12-bolt rear with posi & rear discs. Wilwood fronts, performance suspension. Hellwig Frame FX frame reinforcement kit. 245/45-17 wheels & tires.
Also at some point want to do some tweaks to the interior (front buckets, custom console) but those can wait. Main thing is getting the hardware and mechanicals dialed in.
Change fluids/filters, check brakes including flex hoses, and drive it. I WOULD NOT spend money on rebuilding a TH200. They work OK for a driver, but no sense in putting rebuild money into one.
Although, being an '83, it's far more likely that it's a TH250 if it's a 305 car
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