want to build a FAST car, Suggestions ?

[pred]

I would like to start this project in about 6 months,
Using a BMW as a base, Possible a 318ti or a wagon I would like to approach the 10 Sec 1/4 mile time,
Ive built cars which were in the mid 12s but mid 10s is another story.
What would be a reasonable combo for a,
1, Street legal and inspection legal car,
2, Quiet enough that regular driving isn't giving it away,
3, Good fir highway cruising at 80 MPH all day, So Reliable too.
4, Just plain scary fast.~ ~ ~
~ ~ ~ ~ ~
While I don't know what I will have to spend, I figure it will be a 9 month build and I am hoping that this can be done in the 10K range figuring that a wagon or Ti will run be 2-3K and 7K into parts,
Can it be done?
Suggestions welcome,
Peter