Won't a road frame set up like a TT bike handle weirdly? I thought TT bikes had a shorter wheelbase to make them more stable when the weight is over the front wheel?
If you look at modern geometry tables, you'll find that the difference between road and TT frames (and track frames too) has all but disappeared. Most of them can be set up with zero saddle set back using a zero offset seatpost. For example, the Cervelo P3 and T3 have identical geometry, yet the two bikes are used for triathlon, UCI and domestic time trials and pretty much all track disciplines with only adjustments to the saddle and bar position, and you don't hear a lot of complaints about their handling. I'm sure the only reason nobody uses them for road racing is that the bent tube is not UCI legal for mass start road races.
The one potential problem with using a small road frame as a TT bike is that selecting one with a short enough head tube could lead you to having a correspondingly short top tube, forcing the use of a long stem. I've used a 12cm stem on mine with no issues, with the elbow pads on the bar centreline, but if you're unsure it's likely that you'll be able to get your fit right with a slightly longer frame and a drop stem, there are plenty of fairly cheap options in the -30° to -40° range. Going from a flat -17° x 120mm stem to a -35° x 100mm allows you to go up over 20mm on both head tube and top tube length.
If you look at modern geometry tables, you'll find that the difference between road and TT frames (and track frames too) has all but disappeared. Most of them can be set up with zero saddle set back using a zero offset seatpost. For example, the Cervelo P3 and T3 have identical geometry, yet the two bikes are used for triathlon, UCI and domestic time trials and pretty much all track disciplines with only adjustments to the saddle and bar position, and you don't hear a lot of complaints about their handling. I'm sure the only reason nobody uses them for road racing is that the bent tube is not UCI legal for mass start road races.
The one potential problem with using a small road frame as a TT bike is that selecting one with a short enough head tube could lead you to having a correspondingly short top tube, forcing the use of a long stem. I've used a 12cm stem on mine with no issues, with the elbow pads on the bar centreline, but if you're unsure it's likely that you'll be able to get your fit right with a slightly longer frame and a drop stem, there are plenty of fairly cheap options in the -30° to -40° range. Going from a flat -17° x 120mm stem to a -35° x 100mm allows you to go up over 20mm on both head tube and top tube length.