Like I stated earlier if your concerned about money dont go turbo it gets very expensive. Ask RiceRocket or Mr. Self Destruct.
Otherwise that is a good plan dont forget youll need an engine management system like hondata that will allow your ecu to see boost larger injectors and some dyno time to make sure your not gonna blow the thing up after driving it for a week.

And just because we dont have emisions test does not make it legal to remove your cat its a federal law not a state emissions test thing. Besides Im pretty sure that we will have emission testing again in a few years. Im not saying that people dont take them off all the time and get away with it but ask your local muffler shop to make you a test pipe and see what happens.