Answers:
By 1988 EVERY Honda had fuel injection. The catch is that many of them were single or twin-port injection and absolutely useless for tuning. Make sure that the engine has mutli-port fuel injection. If there is an injector for each cylinder, then you are in business. Also, try to buy a DOHC, they make more power.
If you can afford a newer car, it's usually better to go with that. The catch with older cars is that parts are becoming scarce, even for Hondas. As CRXs and Civics from the 80s turn 20 years old, the parts supply is starting to dry up. Since most of the "tuner era" Hondas aren't old classics yet (but they are becoming classics), the demand for repro parts is not high yet. In another 10 years, these cars will have demand like the 60s and 70s muscle cars and the parts will come back. So remember that when you buy yourself something that's 2 decades old. You can do it, but be prepared to wait a few weeks finding obscure parts that are breaking. Also wiring in cars that old begins to get funky, so if you aren't an electrician, buy something newer. Also, remember you get what you pay for and that applies to cars and parts. There's a reason the good stuff is expensive. When I bought my Lemon CRX, I thought I had a crappy daily driver. It turned out to be a Lemon, just like what I wanted. Oh and old cars stink. Just a fact of life, so new seats and lots of fabric cleaner should be a part of your budget.
As for engine swaps, the nice thing about your current Civic is that it was designed to use both the D and the B Series engines. Swapping between the two is relatively painless and is easily done with some patience and all OEM (junkyard) parts. Swapping a B into an older Civic will take some aftermarket parts and some fabrication. Swapping a newer engine into an old car always takes time and money.
You can have a project as a daily driver, just do things a step at a time. Plan accordingly. Do one upgrade a weekend, so you know the car will be back together before school or work comes up. A jack, jackstands and some basic handtools will get you through the basics.
Buying a car that already has the right engine/trans/mods does not teach you much. But it can be a hell of a bargain. That's why I paid $4200 for an S13 240SX with an SR20DET and a roll bar. The parts alone are worth 10K. So I have a 50% discount on all the goods. However it doesn't run, so I am learning plenty about diagnosing 20 year old wiring bugs and I am learning plenty about how to work on the **** thing.
As for body damage, if the car has been hit from the rear, walk away from it as a project (parts car, yes: runner, no). Front end damage is relatively easy to fix (provided that the frame is not bent and that the engine was also undamaged) and can be done at home, but rear damage is always best left for the body shop. Plus, driving around in a car with leaks and multiple colors is embarassing. I know this from personal experience, so believe me when I say buy a car that hasn't been wrecked.
And now for a question: why do you want to make your car faster? Do you want to race it or are you just doing it for fun? If you want to race, buy something cheap and simple and stock. This is why a newer car helps, since they are faster from the factory. Drive it until you can go faster, but the car can't. That's when you know it's time to modify. Actually this is the first mod anyone should make to their car. Learn to drive it, even if you just want to play around. You'd be surprised where some racing experience can save your life. Again, this is from personal experience.
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When life gives you lemons...you go racing!!!

There is a fine line between hobby and mental illness. NASCAR fans are proof of this. So are competitiors in the 24 Hours Of Lemons.
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