"Restoring a junkyard car"

I purchased a slant 6 74 Dart Sport and I love the car. It was just a body, no motor or tranny. It did not have a title with it because it was junked. The lady at the DMV mentioned that once I get the car running and everything working an inspector from the county will come out take pics and inspect it, if it passes, then issue me a title. The original motor and tranny were missing, so I dropped in a 318 V8 and 904. Do you think this engine will be a problem for the inspector?

Would this car be considered a remanufactured car or will they treat it like a regular classic car tax and insurance wise. I live in NC...

I heard that they will assess the value of the car by how much money I put into it to restore it. Is this true?

I think I would spend the least amount possible to get it running and drivable, then get your title, and after title is in hand go forward with upgrades