I know what you mean, terrible spectator also.
One can for sure spend a ton of dough racing. It can be done a lot more cost efficiently too. Some years ago, ROADRACING WORLD had a nice series on how to go racing on the cheap. You might contact them, see if you can get those articles.
Tires is the single biggest expense, lighter bikes with less HP are easier on tires. One of my coaches now does Supermoto, cheap and fun, but it's a little different than roadracing.
Prepping a bike can be a bit of work, and best to use aftermarket body work (way cheaper). Finding a used race bike, might be a good approach, if it's in decent shape.
Some like to try CODERACE as Hotfoot suggested. It's a good approach, and can be done on our bikes, lots of training and then you race at the end of each day (and you don't have to prep a bike). The 250 Ninjas the guy rents sounds like fun, Hotfoot had a blast doing that.
As for being ready, some clubs have a lap time limit that you have to make, if you are slower than that, you can't race.
Racing is an absolute blast, let us know if you give it a go. Use the kids as pit crew
C
Haha, thats great Cobie, use the kids as pit crew! I can see that now w/ my girl. I'd have a Barbie Doll wedged up in the windscreen and lipstick decals! Lets just hope she puts fuel in the tank instead of apple juice!