were should i start it currently has a 4 cylinder but i want that to go and be replaced with a v8
what are my options when it comes to suspension
brakes and is this a possible task while staying within a 1000 to 1200 dollar budget
Your best, and probably only chance of doing this on that budget is to find a wrecked V8 Mustang doner car that has not been picked apart yet, buy it, and strip the parts you need. Might even be able to recover some $$ by selling the other parts
not going to happen on that budget. your better off saving up and buying a 5.0 and working up from there.
and do you have the time and equipment to install this new motor? you will also have to upgrade your transmission. if your talking about suspension too. thats not even considering all the little things you will need to do after the fact. there is absolutely no way on a $1000. sorry man.