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Newbie, looking to buy first s15



Hi, im looking at buying an s15 spec r and just had a few questions before i juml in and buy one, any help and advice is appreciated!
Firstly, are there any common faults to look out for when buying?
Whats build quality like
What is the standard engine performance like?
I know its not going to be mega economic but what mpg are people returning?
Lastly, it wont be staying standard so what are the obvious modifications if im looking to break the 300bhp mark?
And handling modifications? Coilovers etc?

Thanks a lot,