If you live on the east coast the East Coast Timing Association or
www.ecta-lsr.com . That is the track at Maxton North Carolina.
the basic list to take a stock bike down are
tethered kill switch
metal chain guard
metal valve stem caps
zip together or one piece leather
normal safty gear
there is more to do the faster you go
after 125 you need to make license runs
If you are on the west coast that is Bonneville and the great Salt flats. Covered by the Southern California Timing Assocaition. or SCTA.
You can do what ever you want . The first thing is safty but engine wise anything you want to build has a class and you can see how fast it realy is with no B.S.