Ideally you will want something relatively stock, light weight, and preferably N/A (Flamesuit on because jdm fanboys think everything is better boosted). Too much power and crazy low and stiff suspensions on the touge is an excellent way to have a bad time. A good street suspension with all new bushings (poly if you don't mind changing them every 2-3 years), good brake pads and/or minor brake upgrade (300zx on s-chassis), and light mods (intake, exhaust, a/c & power steering delete, etc). The list of cars is pretty obvious, but these are the best ones to start off with and can be found for $1-3000 in rust free and a1 mechanical if you stay glued to the classifieds.
NA miata
S13
Swift GT (best fwd racekor imo)
Pretty much any 3 door civic from the 90's