Having been in the airplane business long enough I can say, that you should always buy the best airplane you can afford.  The thought that you can buy a cheap plane, do a little work, and have a great plane that you could sell at a huge profit is a myth.

Take this example.  You find an abandoned plane on a ramp, a Tiger, that you can buy for 11K and that take cares of the past tiedowns, plane purchase, and the tires and tubes needed to have it moveable.  Engine is not even a core after 14 so you buy a Lycoming reman.  Then add 5 K in hoses, accessories, mount overhaul, and Lord mounts.  Put a Powerflow on it, send it to a shop for routine maintenance, pulling the strut, rigging, sump and brake covers, seat repairs, etc.    Now you have a plane with original sun faded paint, original interior, no avionics, original plastic, original glass (cloudy in places) that you have invested 66K in.

Choose wisely

Roscoe
Yankee-Aviation.com
513-519-7008