DodgeForum.com - new to the forum but need help

Okay, so I have never owned a Dodge, my parents have owned several. I married into a Jeep family and there for thats what I normally drive. Well long story short my Jeep broke and I needed a car to get back and forth from work. A lady on my local craigslist offered my a 1982 Dodge Colt for $500 nothing is wrong with it, it runs fine. My questions are this:
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Can i change to a larger engine? [it has the 4CLY and I was lookin at the 1.6L turbo]

Where can I find replacement parts for such an old rare car?

What are you honest opinions on this car?

I'm also thinking about giving this car to my nephew when my regular D.D is back up and running is this is good choice for a first car for an 18 y/o?

any help would be great! thanks!