I just converted a mountain bike with horizontal dropouts for $40 in parts. Yes, $40 in parts. Total price for me was $70, the added $30 was for the park spoke tool, park chain breaker, BB lockring wrench. Mind you this is a suicide hub build however, I could buy a Harris hub and rebuild the wheel for another $40 ish. So that still puts me under $100 easily. The bike was free, but in my eyes a conversion can be done for under $100. This comes from someone who two days ago had no idea how to take apart a bike, rebuild it, true a wheel, fix the out of round wheel wobble, etc.

I tell you what though. Building this bike was some of the most fun I have had in a while. I learned a hell of alot as well. I plan to do a road bike build in a month or so. Either going with new parts,frame etc and building it up or just converting a road bike.