Why not track down a cheap Ruger 10/22 and throw a Archangel 556 kit on it? you can do almost anything with a 10/22 anyways but you can do SO much with a 10/22 it isn't even funny. I have also seen people find 10/22's in pawnshop for around $50-100 for one needing a bit of love which gives you more mod money in the long run
Not the best pic of mine but I will post up a couple better pics later.
Originally a 10/22 stainless Carbine
Moded with Hornet Special edition 2# trigger, Midway 17" heavy match barrel, DNZ mounts with Mueller APV 4.5-14x70, OEM Ruger limited run target stock, Champion bipod.