i found my frame in the garbage... and then i waited for the monster track swap meet to get a rear wheel. 25 bucks. with cog and lockring attached. i got a free old 130 bcd crank arm from my LBS and a $17 rocket chain ring that gave me the right set up with my already attached cog. that got me going.
point is... you are in MKE... I sure there is a messenger or some fix-a-holic that has an old wheelset they would be willing to let go for a reasonable price. this will get you going. if you fall in love with it, which you will, you will easily be able to justify upgrading as you go.
good luck.