[twobjshelbys]

If you are targeting 50K for the completed project you should rethink your plan. The ERA part is going to be a significant part of that if not that much. You should figure 20K+ just for the engine/trans/exhaust etc. More than that for a FE style, and if you find a used one, it can cost that much just to get it working. Lots of people here will get you into a 427CI Windsor for 20K-ish, more if you want fuel injection.

Are you really sure you want the task of assembling a kit? First, it's a multi-year task, and if you've never done that kind of assembly, it will involve lots of tools that you don't have and will never use again. That just starts the unexpected expenses. You should also figure on a lift. More bucks...

If you want a Cobra find a finished one and buy it... At least you can drive it to see if it's for you.

Good luck