A tune up would be a good idea. Spark plugs (stock champion coppers only), spark plug wires, PCV valve, air filter, and fuel filter. I believe in preventative maintenance. Also as mentioned, the neon timing belt is a 100,000 mile belt so you may want to ask the person you bought it from has had it changed. If not, you will want to change that, the water pump, and tensioner all at the same time. This can all be done by yourself for minimal money. You got a real good deal for only $400, but you may need to add another $600 in maintenance to get it running real good. The lifter noise could be due to low oil levels, so make sure your levels are correct. Also, I have heard that switching to synthetic, will help the noise go away.
The 2.0 SOHC is rated at 132HP and 132 ft/lbs. of torque, just a little FYI for you. The neon can be modded if you are interesetd at all.