stick with Hobart, Miller, Lincoln, name brands. Once you learn, you will regret not buying 220V one. Save up and buy the real deal. I agree about craigslist. Sometimes deals are amazing. Keep looking there.
Buy something from a local welding shop. That way if/when (even the $$ machines need parts on occasion) you need parts or service you will have a relationship with the place you bought it from.
The words "cheap" and "welder" don't mesh well. In the field of fabrication, you get what you pay for. IMO I would stay away from Hobart, Their new stuff is sub-par (I know, I know "they're owned by Miller") It's apples and oranges. Save for a few more months and buy a QUALITY Miller or Lincoln. The new Everlast welders are nice too, they're German now instead of Chinese and vendors are popping up all over. They use quality Siemans electronics and have a good warranty. The prices also can't be touched.
I bought a welder from *gasp* HF. (I think it was like 180.00) it was 220 and work great, never had problems with the machine and it was perfect to learn on. I sold it for 100 3 years later and bought a Hobart 210 and WOW. This machine welds so much nicer and cleaner. It feels like the weld has a nice smooth puddle. But the HF was a great tool to learn on. So if you are looking to learn to weld and weld up some stuff, go with the HF version if you have a very limited budget, and sell it when you want to move up. If you got the money to spend, get a miller or hobart (made by miller, just a lower end of the millers) But you for sure want that 220!!!
I picked up a commercial 220amp Mig for $500.00; it included a 20# Argon/CO2 tank with two regulators and a full spool of wire. You can find good deals on Craiglist so try sites like SearchTempest.com so you can search multiple regions; could make all the difference when a good deal shows up. There is a lot of people scouring CL so you need to be on it when/if you do find something with an attractive price.