if i lower the torsion bars on my ranger edge how will this effect my ride. Do i have any other options on how i can do this correctly?  

TRy a drop spindle set from Bel TEch, or Google, or Stylin Concepts. Tweakign teh torsion bars will mess with teh camber/caster & it'll drive REALLY touchy!! Best to get the spindles. ..just my old-guy opinion [disclaimer].  Good luck!
Hope you're able to keep it driveable as getting tooo low gets things hit with the door (or rear panel[s] for lack of a bumper/defence) &/or the bottom gets wasted. Keep your project simple, cost-effective (it's a good thing to be able to afford food & a roof), & be practical; & life righteous & REAL! If you can, get the family & kids involved - if they want to. Make good memories & relationships (*you don't wanna be the only one at your funeral ). Godpeace.