1st thing, figure flying to CA , driving 3000+ miles back to New-england , is going to cost $300 plane ticket, at least 100 gallons of gas if your new car gets 30mpg - and gas at $3 / gallon for premium [ probably more most places ] another $300 minimum. A night or two in a hotel, or state park , or anywhere better than a parking lot , if you like showering , another $200, and $100+ for food and $100 for souveniers. Now you've already added $1000 to the price of your new rig.
If you want a car to go to high performance driving events - at various road courses - where you can do 140mph on the straights and pull nearly 1G in the turns, there are a lot of cars that will fit the requirements. And in that setting , the vehicle can be bone stock factory equipped . My VW GTi will get to 125 mph on the front straight of our local track, and probably faster if i got the preceding turn just right. And its got factory seat belts, regular road tires, factory suspension, stock drivetrain, full interior, drives to work on monday. There are other cars on the track at the same time, but one could say its not really "racing" against the other cars i suppose. You just need a Snell approved helmet.
So, maybe you do want to go "racing" . Where you are running for points in a series. NASA - SCCA - IRDC, etc. And cars/drivers expect to bump into each other while jockeying for position . Now you need a roll cage, gutted interior, dated safety belts / harness / Hans device . Remote kill switch, probably a fuel cell. Entry fees. A Transponder. Do you like coming in last ?? - if Not, figure on suspension tweaks and parts, drivetrain tweaks and parts, dedicated track tires, maybe a trailer. Now you've added several thousand dollars to your bargain CA car.
Will you make a profit on it when it comes time to sell your personalized racecar ? Well I'll put in a quote from the classic car restoration world which could just as well apply to racecars - " When it comes time to sell, your parts are worth 1/2 what you paid for them, or less, and your time is worth Nothing..."
The cheap way to do it is to get a fun , fast street car and go to high performance driving days at road courses. And even those are about $400 a day [ around here] . I'm not trying to discourage you from driving fast or racing - in my opinion, the HPDE days will allow you to get your $$ back out of the car when its time to sell. The hobby amateur"racing" series you will lose money due to all the more things that are needed for safety and class sanctioning.
edit to add - I would find the sanctioning body you think you want to run with, and download their rulebook / technical requirements for the class you want to run in. Read it twice, than start adding up costs. Alternately a good site to look at , where you can buy someone elses already built racecar at 1/2 the $$ they put into it, is RacingJunk-dot-com.