depends on what you are shooting... if you are just doing small things that would fit on a table then here is the thing just for you:

Studio Table set up for under $80

If you are planning on shooting people (with a camera of course) then i suppose just expand that table idea to a plain wall with some cloth draped from it in an infinity curve and just make the lights taller ;)

Plus if you have a flash - then you can always use it as a light source... (just buy an offboard connection cable) you will just have to get used to not seeing the light until you hit the shutter button/see what comes up on screen... there are a few tutorials out there on how to modify flash units to act as lights and i;m sure a little ingenuity and improvisation could replicate thing like flash umbrellas, diffusers and reflectors ;)

edit - btw, i havent done either of the above, they are just suggestions, i tend to like just going out and taking shots, and "studio" shots are done using one or two desk lamps and a few strategically placed books/peices of white or black paper/whatever i feel like using.  For instance the recent Bubble shot in my gallery was shot on my desk with a blue tissue box placed behind the glass and the cap of a red felt tip pen dipped into the water behind it... the light came from a single desk lamp.

Which reminds me - part of your considerations of your studio would be light control... if there are windows board them up, unless you plan to use the natural light - the main point of using a studio is so that you can control the lighting down to perfection...

"In every colour, there's the light.
In every stone sleeps a crystal.
Remember the Shaman, when he used to say:
Man is the dream of the Dolphin"

Rich Meadows Photography