I was in the same boat when I was looking to go fixed gear/ single speed. I didnt get anything nice, but I spent a little more money and I have had a great experience. With those Wal-Mart/Target/Cheapies, the quality is so poor that the components arent worth fixing when they break down. You are better off just throwing the parts away and getting new components. You may need a tune-up on something used, but you wont have to worry about cranks shearing off or brakes not working at all and leading you to certain death...
You can get something like this for $150 (in Asheville, not where you are) http://asheville.craigslist.org/bik/3619978843.html, so surely there is something where you are...