Welcome to Vstanced my buddy!
I suggest you for the Bimmer the UZ Series and UR from Toyota, very lightweight for being a V8, with good power, perfect reliability (cuz toyota), very cheap and TORQUE FOR DAYS.
Thess engines are from 900$ only engine without trans and wiring to like , to like 2grand in the case of the UZ series with auto trans, ecu, wiring, and in the UR , the bottom version engines (1UR-FSE) are for like 5 grand with awd transmission, ecu, witing, etc, but they are from the performance division of Lexus, and are serious engines, but are expensive, for that you can buy a 1JZ , lightly mod it and call it a day, but the UZ series is VERY cheap!

My choice is the 3UZ-FE, it's relatively cheap, for like 1800 to 2500 you can buy a complete engine with trans and ecu, you can sell the stock at trans, at ecu and all the items related to the transmission for like a grand, later you bolt an bmw trans, an standalone ecu, and some bits and you got a reliable and modern japanese 4.3 liter aluminium V8 with VVT-I and 300HP-325lb⋅ft in stock N/A form, later you can start with some parts, boost it if u want, get forged internals, etc etc, and for so much less money than a JZ or an RB.

Suspension : You will need a complete new suspension with angle kit in front, and good coilovers, if u want to do it in the right way, if u want just a drift missile forget everything and get it running with whatever engine that you can put, maybe 1jz-ge or gte, or a 1uz with a manual swap and the rest just doesn't matter, but if u wanna do a very good drift car, you will need a complete new suspension with a like 50° angle kit, a good engine with good amount of torque, bucket seats and a rollcage, the rest is just preference.

I'm stoked to see what you will do with those cars, i like em, whatever you need just hmu.

Enjoy vstanced lyfe hehe