TJ, We are from Fredericksburg, VA. and pretty much pack up and ride in WV. It is a hike but some of the best terrain and friendliest people to ride with. There is a place in MD. it is a 18 mile loop and not to bad. Just short. Seems to be a few good place in PA. that is a bit closer.
As for racing. It depends. AZdezracer raced the Parker 250 ironman on a almost stock bike. Not too many upgrades and didi very well. It really depends on how fast you think you need to go and how well you want your suspension to be. Just a short list below will give you an idea what we paid, please remember that we also have rider support on some items and they may be a higher price on MSRP.
Nerfs 250
IMs tank, 240
Barker Exhaust and fuel controller, The deal is posted somewhere
EHS lid 80
Houser front A arms, 500
Elka shocks, 700 X 2 front and rear
Powermadd Hand guards, 40
Hiper rims and ITP tires, 900
Steering stem, 200
Pro taper bars, 100
ASV, Levers, 150
Rear tool chest, 125 (no longer avail. per PRM)
Vapor computer, 150 (really not needed)
Engine work, I don't know where to begin on cost
Some of this is preference and some was a must. The oversize fuel tank is a must, new tires and durable rims is a must. Outside of that you could of raced the 250 in Amateur and rode around and enjoyed a 80 mile loop 3 times. It really depends on how serious you want to be as far as competing. The same is true with the GNCC and the VXCS. It is purely how you want your bike to feel going over that terrain.