Ben there, done that.
I recommend it highly! And you are crazy to try, LOL!
It is truely the gentleman racer approach, and I did it for my first year racing in my ITA RX-7. You will never have another first year and you will always remember it like it was yesterday.
I decided it would be cool, and would save money. It was, and it did...sort of.
Heres the result:
1st school, Pocono. Drove there loaded to the gills, stock suspension, Toyos, alone with tools and tent. In the practice race, the leader spun on the banking, and I was running 4th...he flopped down in front of me, and BOOM...new car time. My most excellent instructor, just retired CRB chair, Kurt Weiss, kindly loaned me his van/trailer to drag the 3 wheeled mess home. Got signed off though, so no real harm!
1st race, Lime Rock. "new car", general confusion, I was missing parts and tools, but I missed all the wrecks, finished two laps down..(sheeesh!) but drove home.
2nd race, same thing, but only 1 lap down!
3rd race, NHIS...3 hours with my girlfriend in the car...stopping every 50 miles because the new lowered suspension rubbed the tires with too much gas in the tank! My doubts as to the suspensions engineering were confirmed when the panhard rod removed itself while being closely followed by a panicing Mustang. A hasty weld job by a unknown nice guy got me home, slaloming between potholes the entire way.
4th race..LRP..finised ON the lead lap...12th! Whoo hoo! Still missing things and such, but drove it home.
5th race Watkins Glen...blew the street motor. Gulp. Girlfriend sick so had to find hotel instead of tent. Hitched ride to airport, rented car, left race car there and drove 5 hours home. The the next weekend, I rented a bumper hitch, borrowed a trailer, and "borrowed" the work van (shhhh!) and made the 11 hour round trip to get it. Expensive "weekend".
6th race, LRP first Busch support race, went faster than ever on new "junk" street motor, now with only 110,000 miles on it! Finished 5th, in the trophies, and WON money! And it drove home.
Notice a trend? The car KNEW when it was far from home, and of course, Mr Murphy had his way.
But, it was a great year, and really taught me lots of lessons. I'm glad I did it that way. Won't do it again, though!