RE: first jet
Here's another way you could look at it:
Buy a Boomer Elan and a 120 class engine. The Elan flies great on this engine and I have seen several guys have lots of sucess with this combo. With the 120 size engine it will also get moving pretty good.
When you are ready to move up - keep the Elan and the 120 turbine and purchase an Ultra Flash. Put the 120 in the UF and go have some fun. Keep the Elan around as you will find eventually you will want to have it as a go-to plane.
Both are great airplanes and will serve you well.
PaulD