Here is what I made for my 5' tall girlfriend:
The frame is a salvage off of a trash heap. I built up new 24" (507) wheels with a Nexus red band 8 and a Novatec dynamo hub. The rims are Alex DX32, sold as downhill rims. The tires are stock, I plan on some Big Apples in 2.35" size. The handlebars still need changing to her preference. Everything else was pulled from the parts bin.
I tend to call it the Mutt. But it is becoming "the mistress" since I can extend the seatpost enough for me (5' 10") to ride. I like to go down stairs and things with it. But then you can shift into high gear and go across town. It also has lights for nighttime fun.
I believe the Outlook 24 was a youth mountain bike. It had MTB gearing on it. The derailleur hanger is a bolt on, and the dropouts were horizontal, so the Nexus was a easy fit.
You may not find what you want on the shelf. I know I often don't. I didn't have any explicit goals in mind with this build, just that it be fun and practical.