[QUOTE=oldfixguy;9794301] A man can get all kinds of lucky by scouring flea markets (be careful about stolen bicycles), yard sales, Good Will (seriously), etc.. QUOTE]

Best option with that budget.
You can pick up a very decent bike off of craigslist for around $75 strip it down and replace everything with SS/FG components for <$300... Pluss you can customize it to what you want.

If you like the bike after awhile save up and have it powder coated to the color of your choice.

Good luck!