Been working on turning my old 62" linear inch Samsonite Oyster suitcase into a bike trailer like the Bike Friday one.
I've been using 3/4" threaded PVC pipe. I had to glue the short part that connects the tow arm to the trailer chassis. So far I've spend just about $60. The PVC pipes and connectors are about $2.50 each, and the trailer hitch, including the axle mount was only $11 shipped. I bought the suitcase used for $15 a few years ago. I already had some nuts and bolts to connect the chassis to the suitcase.
I haven't tried putting the trailer parts in with the bike yet, and the wheels will be another matter. But I think I can make this work.
Stay tuned.