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I am not a turbo expert but hopefully the info below will help you some.
TURBO SIZE
You want an IHI RHB31 turbo which is the smallest production one available, but they are expensive . . The one in the link below is a Chinese turbo p/n VZ21 and is a copy of the IHI unit and the bearings may not last long since they probably only cost around 23 cents, however, they are replaceable . . These guys simply "borrowed" the charts from the IHI site . . See price at bottom of my post.
http://www.ecotrons.com/products/sma..._turbocharger/
http://www.ecotrons.com/files/ECOTRO...al%20specl.pdf
CARBURETOR VS TURBO PLACEMENT
1. you can run a carburetor before or after a turbo . . Before is called a draw thru type system and after is called a blow thru type system.
2. Running the carb before the turbo is far easier to set up and jet.
CARBURETOR
1. I would run one that is larger than normal.
2. You will likely need a needle with a large taper.
COMPRESSION DETONATION AND IGNITION TIMING
The more boost you have, the higher the compression will be . . If your engine has around 8.5 static compression and 5 lbs of boost, you will have around 11.5 compression.
If it pings, you can run higher octane gas or reduce the amount of total ignition timing it has . . If you fix the max amount of timing, I would try it at 20 degrees btdc . . You may also have o delay the timing by modifying the spring tension on the centrifugal advance if you have one.
SPARK PLUG
Use one that is 1 step colder than stock.
OIL PRESSURE TO TURBO AND OIL PRESSURE GAUGE
The turbo needs oil from the engine but won't need very much . . In your case, it should be around 5 to 10 psi at idle with around 5 more psi per 1000 rpm, so at 5000 rpm it should have around 30 to 35 . . Too much pressure will blow past the seal.
You can put a pressure gauge in the oil line before the turbo and regulate pressure by inserting a restriction in the line before the turbo like a main jet.
BLOW OFF VALVE
This are needed to these are not needed on turbos that use the carburetor before the turbo.
BOOST GAUGE
Get one.
ADJUSTABLE BOOST VALVE
You won't likely have enough boost to need one.
AMOUNT OF BOOST TO EXPECT
Around 5 to 6.
CAMSHAFTS
Most people doing this at home have the wrong camshaft . . If you have a supercharger, you can run pretty much any cam you want and it will run fine but turbos run best with a cam thats specifically designed for them and these have long exhaust durations and vert little overlap.
https://www.youtube.com/watch?v=XEray_RFIkU
WHERE TO BUY
This place is the cheapest and ships world wide . . I could probably sell them for around $180.00 to $200.00 each if I had maybe 4 orders.
http://www.ebay.com/itm/VZ21-Mini-Tu...3D221942151475