[cHo]

Hmm.. 5k huh? I'd turn the vr4 into a beast with that type of cash...

Well before doing any mods, make sure your car maintenence is up to date and that you have a healthy motor/turbos/drivetrain/cooling system/fuel system/brakes/suspension/etc. Just make sure your car is in tip top shape before you start getting ready to abuse it.. If something is messed up, you can always upgrade it but becareful getting too ahead of yourself. Also are you gonna be doing your own work or paying someone..?
Buy a datalogger and make/purchase a boost leak tester.. Learn how to read the logs and what to make of them.. There are billions of threads on the internet on how to do this. Boost leak test and make sure that you have no leaks.. Also gap your plugs down to 32-34..
Then buy intake/boost controller/dp/exhaust/upgraded fp and hotwire kit and slowly turn up the boost as you monitor through your datalogger. Also you can gut your stock precats to provide more flow without spending a dime. Now depending on how well the car was taken care of.. Either you are already broke or spent less than $1500 of your 5k limit.
Do that first and lets just see where you stand financially.. how happy you are with the new performance of the car(stock to bpu makes a huge difference imo..).. etc.
Congrats on the purchase of the car and hopefully you guys treat each other right..