New Member, new to me RX-7
 

Just bought an abandoned 1987 rx-7 in hopes of restoring it and possibly swapping the automatic transmission to a manual. I have no mechanic experience, exactly how in over my head am I?

Welcome!!! The process isn't horrible, but there are quite a few parts required, a decent set of tools, and a fair amount of mechanical experience is preferred. Your best bet is to find a complete done car and swap everything over that you need. Otherwise, it may be advisable to buy a 5spd car and restore it.

The one that I just purchased I got for $1000 and the body is pretty mint other than needing a good paint job and a tiny bit of rust repair. I'm looking to treat this as more of a resto-mod as I want it to have a bit more power than it did stock.

Seeing as how it was abandoned, I really have no info on it, so it's quite possible that the engine is actually okay. Does the stock engine have quite a bit of hp potential, or would my best bet be to do an engine swap?

Welcome to forum

I agree with what mazdaverx713b said. Your best bet at a smooth 5-speed swap would be to take it all from a donor car. It isn't too hard, but you need to have an understanding of how the clutch system works. You'll also need to figure out a way to mount the new trans to the car. Auto and manual cars have their transmission crossmembers in different places in the tunnel. I welded both of them together into some sort of Frankenstein mount when I did my swap. You'll also have to bypass the inhibitor switch, which just involved wiring a jumper into the connector. Without doing this you won't get a starter signal.

Be advised that turbo and non-turbo transmissions require specific clutch/flywheel combos. So if you plan to use a Turbo II trans you'll need the turbo clutch and flywheel to go with it, and the same for the non-turbo trans. You'll also need to have the manual driveshaft that matches your differential, similar to the clutch.

You didn't mention if you have the turbo or an N/A model. Turbo engines have good potential out of the box with small upgrades. You're looking at a realistic maximum of 220 whp from the stock turbo, upgraded fuel system, and fuel cut defender. Obviously larger turbos will net more power with the proper supporting modifications. N/A engines have their potential too, but you'd be looking at porting the engine for any real gains, and bigger ports have their drawbacks in street cars. Then there's the direction I took, which is putting Turbo II parts on the N/A engine, called a "6-port turbo." But though the idea is simple, you'll still need to tune the fuel and ignition to account for the higher compression of the N/A rotors. The stock ECU from a turbo model won't cut it. The timing is too advanced if you want to run pump gas. In any case, even if it's a healthy engine, it's still very old. You'll probably want to open the engine and replace the water jacket O-rings and freshen up the seals as needed.

In short, a lot of us are mechanics by hobby. These cars require love and attention; the lack thereof has given rotary cars a bad reputation in the past. If you don't want to spend a lot of money at repair shops, you'll need to be a DIYer. Take it slow, read the forums, and ask questions if you can't find it in the search. And welcome!