my 2c
"overlanders" or those that like forest roads, but its also a DD, basically an all around- TT, shackles (or TT and OME in my case), 31s, and save the extra coin for a lunchbox locker or good LS clutches
want a bit more that can do 90% of trails? (ie at moab, etc) TT shackle 3" BL, or superlift, or rough country front lift and SOA in the back and 33s, 4.56s. (or 410s too since they came factory) (35s are possible with 488s, but will need trimming!) and lunchbox locker
if you want long travel theres stuff like deaver and i believe GFE sells a long travel IFS kit too.
overall, for your 5k budget, id go with the rough country and SOA, 33s, 4.56, and lunchbox locker
not sure what labor is like for these, but parts wise
rough country- 1k
SOA- 50
33s- 1.5k???? tire prices vary

4.56- with labor here its like 2k or thereabouts parts wise maybe 500?
lunchbox locker- 500
this adds up to something like 5k
my setup is TT, OME leaves +shackle and 31s. works well for everything i do, which is mainly wheeling for the sake of going places, not to go over the tallest rock, but to get to fishing spots, service roads, etc.