Just a piece of advice, the bigger/heavier the car, the dearer everything else will be. Tyres, a diff to take the punnishment, the power needed to keep the car in a slide, gearbox, everything.
If you want to go sideways in a car pick something fairly light to begin with. 4 cylinder will keep things cheap. When you look at AE86's and even sivlias to a degree they are a perfect example. If you only have $5000 I doubt you'll have a decent 31 ready to drift if you also don't have much experience with cars yet.
The other unfortunate thing is that you'll probably have to compromise with a road/drift car. Most things you'd do to a drift car wouldn't be unsuitable/legal for the road.
I've had a turbo silvia which was great and currently own a 31 wagon, which I can tell you now is no nimble piece of equipment especially when close to standard form
If I had to do everything all over again I would get an AE86 or Dastun stanza if you can handle the looks. The AE86 has obvious potential, the stanza is the lightest shell a L20b series 2 bluebird motor will drop straight into, bang a webber on it and spend the rest of your money on wheels/exhaust etc...
For a compromise car I'd say a series 3 bluebird TRX with the CA20 engine. Pleanty of room for mates, reasonably well appointed, not too heavy. The possibility to easily upgrade to a CA18DET down the track would make it a good choice.
I love my 31 but I only chose it as a tow car for my stanza race car and not as a drivers car. That said you can have fun in just about anything if you want to.