I did something similar only with a center in/offset out muffler. Mine did hang a bit lower so the exhaust tilts up a bit at the tranny crossmember to help. Kept it higher than the frame and the fuel tank.
If cost is an issue, I went to an exhaust shop and purchased 10' of tubing, had 3' cut off and had some bends put in it to work with, and just an off-the-shelf performance muffler... about $50 invested.