Without a line lock then it depends on the condition of the road etc........how ever you want to do this, you must have a little water down to help the spin and to prevent damage to driveshafts etc......
I've a friend who did lots of burnouts with a stock 1200cc in a bug.. So the 2 litre type 4 wont be a problem.. I'm pretty confident you could do some with a 1600cc in a single cab too...
best to go for an electric one so the valve can be located in the brake pipe circuit. You can buy cheaper mechanical ones, that is just a valve and lever, however you need to do some plumbing and bring the brake lines to where the valve will be.
Having said that the mechanical one from Demon tweeks is much cheaper and you could maybe use it as a securty device to lock the brakes on? But I wouldnt want to leave it locked on too long as it might strains the seals etc?