Cool project...
It would be good to have another GVR4 in its natural habitat /ubbthreads/images/graemlins/smile.gif Having said that, before you get to far along, are you planning on racing in Performance Rally (over the river and through the woods), European style Rallycross (door to door lap racing on a dirt track), or SCCA Rallycross (basically autocross in the dirt)?
Deciding what kind of racing you want to do will affect the amount of work and $$$ you are going to be putting into the car and the supporting equipment. For example, if you choose to compete in performance rally (from the event dates you mention this sounds like your goal), you will need to buy an approved racing suit, gloves, socks, HANS device and helmet (get a good one with built in noise cancellation). You need this for both the driver and co-driver. You will also need to get the car inspected and logbooked (unless the previous owner gave you a logbook). You'll also need to choose which sanctioning body to race under (Rally-America, NASA) and get a license to race. Note that when we got our RA licenses back in the mid 2000's, they would not let someone "just walk into a race" with an AWD car. You had to prove you could rally in a 2WD car (I think you had to finish in the top 50% for two or three rallies) before they would let you compete in and AWD car. I think its even harder to race AWD now. Take a look at this link and under paragraph 2.1.C:
click Even then you were still under probation (you have to race with a 28mm restrictor in the turbo inlet and finish two or three more rallies). You also have to choose which class you want to race in. I would highly suggest Production GT which is basically stock everything except suspension and safety equipment. Otherwise, you'll have to race open class of which you'll be up against high horsepower big $$$ race cars.
On the other end of the spectrum is SCCA Rally. This is low key, run what you brung racing. You race one car at a time against the clock around traffic cones on a dirt field or gravel lot. I would highly recommend you start here regardless if you plan to eventually race Performance rally. You get real world experience with the car (learn its handling capabilities in loose conditions and its limitations) and if you make a mistake the only thing that could get hurt are some traffic cones.
Anyway, I've rambled enough. I'm not trying to rain on your parade. Just wanted to make you aware of some of things you'll need to have besides a running car. When we started out we "assumed" that we could just get a car "rally prepped" and go race. There was so much more to it (and $$$ required) to get into the first performance rally. Having said that, it was one of the most rewarding things I've ever done.
PM me if you have more questions. I'm on the boards rarely these days but would be happy to talk more about your rally car and your aspirations for it.
Take care,
Dave H.