cheap? just a streetable drag car? fox body mustang (under 3k lbs). 5.0/5.8 (H/C/I/E), suspension, trans, rear, & slicks: ~$3k-$5k. Bottle and Your in the 10s.
slightly more expensive? decent handling street strip car? 4th gen f-body (3.5k lbs+). 383 SBC (H/C/I/E), auto, rear, slicks: ~$3k-6k. Bottle and Your in the 10s.
F-bodies and Fox bodies are stupid cheap to make fast (10’s) & reliable (tear down once a season) if it’s mainly a strip car.
Talk to Badazz (fbody) or BDR5oh (fox body)
You can spend alot of money and get fancy with boost, motor swaps (big blocks or LSx motors). But in the end You can make high 10’s relatively easy on stock shortblocks (plus pistons) & a decent set of heads w.spray. A little suspension too.