You should have little trouble finding something worth while with that budget.
Keep the eyes peeled for;
Eliminaotors, Carrera's, Sleek Crafts, Cole, Hawaiian, Advantage and so on.
You will want to keep it right around 20', longer and you get into weird performance issues, shorter and your friends need to be really friendly... LOL
If you are looking for reliability, go for Marine Power, Hardin Marine, Kodiak just to name a few. These engine manufacturers have "been around the lake a time or two" and have proven themselves repeatedly.
There are quite a few jet pump companies out there, you really can't miss with a Berkeley style pump. These would include American Turbine, Dominator, Legend and if you have extremely deep pockets, you can go with a Hamilton.
Good luck and hope to see you on the water.
GT