All you need is a standard kart engine for that frame. You will have a lot of fun. It will be fast, geared properly. I hope you're short, cause that frame is intended for a child. It only has a 41" wheel base......
You're obviously new to karting, so I HIGHLY suggest sticking to a normal kart build and not go all out, thinking the more power the better. It don't work that way with karts and could end up with you getting seriously hurt or dead.... Karts are inherently dangerous vehicles and should be treated as such. It's when you have great skill at controlling a kart, that you begin to modify it, and ONLY then. What good is hp if you can't control it.??? Stick with the basics. It's all you need to have fun. We have members pushing 50+ mph with a standard (worked over) kart engine. My gx160 is in the 9+ hp rating area.... BUT we KNOW how to handle our karts VERY well. I can give you a ride that will make you pee your pants (I won't stop till you do, lol,jk ) with my daughters little 2 seat kart, and it's only a 1-wheel wonder!! It's how I can maneuver the kart and make it do/go where I want it to..... Not because it's got a bad @$$ engine, it's a bone stock predator 212......