JR,
if you are starting out with nothing, you are going to be at LEAST $300-350 depending on what you build. you have to buy wood for a form, build a hot box then the bow materials, epoxy, and all the extras..saw blade, sand paper, sanding belts, rasps, files, ect. You can save money along the way but you won't be coming in much under $350 I bet. I could be wrong but i think you'll be close to that.
another thought is to have someone who has all that stuff, glue up a blank for you and you can finish from there. That will save you money from building the form, epoxy, hotbox.
Quality is up to the builder, there are some new bowyers who have great looking bows.