They are two different cars that handle differently. The MR-2 has that mid-engine, and is easier to lose control in. You might get more mileage out of the toyota engine (depending on ho much is already on it). If you are just looking to bolt-on mods ("fix up") you aren't going to get the money out of it that you put into it.
What do you want? A two-door nostalgic japanese mid-engine sport compact enthusiasts car, or an sedan that is AWD drivers/track enthusiast car?
The WRX STi is a faster car stock, but I like the MR-2 better just because it is rarer. But if I had to own just one, it would be the WRX STi because it is much more versatile. You can take it in the snow on mountain roads, you can put friends in back without cramping them, and you can take it straight to the track.
The MR-2 I would keep only if it was my second, weekend driver because I would need something more practical as my main vehicle.
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