You'll get a lot more for your limited budget if you look for a used gun.
You might even find an original Colt's on which to work. Maybe you'd have fun converting a Series 80 into something much better.
Trigger jobs for the 1911 are not easy, but Brownells sells useful jigs and very nice stones that help you along.
The main issue is: Do not cut the mainspring, or the sear-spring or trigger-spring leaves. Work only on the hammer/sear engagement angle, and their surface polish.
(I don't know your skill level, so please forgive me if I'm "teaching my gran'ma how to suck eggs.")