am I going in the wrong direction?

Don't know what you budget is but you will be looking at around $10K by the time you have it up and running.Not saying that you should or shouldn't.It is just time and money.If you can swing it,,go for it..
10 k ? lets see 10k divided by 390 hp comes out to about $25.64 dollars per hp that sounds like a bargin !! :rofl: