Will Kumley
Line Up and Wait
Actually almost bought a plane with good bones about a month ago. During initial inspection though it was discovered it failed the good bones check due to severe corrosion within the wings and other easy to see locations. The search continues and will likely go on hold for a few months as it doesn't look like there is anything meeting the mark anytime soon.@Will Kumley
Since you're on the eternal quest for the world's cheapest IFR airplane, you're going to need to be happy with lots of discrete components ("steam") and a pair of VORs for your initial. Let the money build for a $10-15k investment in an IFR GPS at some point, when the budget affords, and bring the plane partially to the 21st century.
Finding a worthy candidate should be your focus, in my opinion. Commonly known as "good bones", for a sound airframe, and decent-ish engine.