Welcome to the forum, nice 1st ride !! ( mine was a 59 Chevy vert )
It's good to have a goal for the car, & set a budget.
It's way too easy to just throw money @ it.
Welcome to Stangnet! They sky is the limit with modifications but I would take it slow. Put a good plan together before you start throwing parts at it!
@sixocyclone Welcome bud! Idk if you have an IG, a buddy of mine on there has a v6 Mustang and I think the mods he's done would be something you might be interested in. Look at the stock pix of his car and then the most recent ones. Not to many performance mods, but a good bit of body and suspension. Just thought it might be a good starting point. His name is @dillonshand.