hey...welcome to TN...
1. are u just rebuilding motor to stock specs or will be building bottom/top end to run higher boost??.....if the ct-26 is dying on you....forget the rebuild....upgrade the turbo...this should all depend on what u want to do with the car....what kind of power do u want to make should be the very first question u ask urself..this will save u time and money in the long run if ur planning ahead....
2. IMO....no.....theres been alot of owners that have made great numbers with gen2 motors....all this jdm this..jdm that...is such a load of crap.....buy into the hype if u want to....the one main advantage of the "jdm" motor...is that if u can find a gen 3 with a ct-20b turbo....
3. price will vary depending on where u go...who u know...to give u a ballpark.....i'm rebuilding my motor (arias pistons/eagle rods/arp studs/cometic hg/shimless bucket conversion/some head work/balance crank and motor/etc.....and its ranging to around the 4-5gs CAD right now.....
4. most common problems to look out for would prolly be t-roofs leaking...but that is easily fixed..but with buying any used car...u should have it taken to a mechanic u trust and do the basic...compression test and leakdown test is vital to determine health of the motor....look for any visible signs of oil leaks....
5. ur in the best one now.......
for toyotas that is....TN is a toronto based forum....but we have members from all over the world....if u want to check out other mr2 and meet other local owners...check out
www.ontariomr2club.com