my set-up costs somewhere around $70. but I do have a nice photography shop near me so that helped save me a bit of money.
I use one of the black plastic tanks. I really like it as it is has easy to load reels. I find it really easy to load them in the dark.
http://www.adorama.com/DKTPU.html?
I got a pair of plastic graduated cylinders and dollar store 2 cup measuring cups for mixing chems. And the brown chemical containers that are found at photography stores (not always need but I didn't have good bottles). A simple non-digital cooking thermometer. Dollar store oil pan for heating and cooling of chems. picture below.
Since I have a completely dark bathroom in my place I just hop in there after dark. I turn off all light that could shine in that room and go to work. it is the easiest way form me to get a properly dark room with out taping anything over the door frame.
As for developing process I followed this video guide to get an idea on what to do. it has started me off on the right foot.
for chemicals just get a cheap bottle that matches the film you are using. so if you are using Ilford get an ilford developer and same for kodak. as the film will have the developing time listed on the inside of the package and it will be easier to know what to do when you are working.
once you got the basics down it is time to experiments with different stuff to find what process and chems you like with the film that you shoot.