hmm
shoes -- $50
backpack -- $150
hammock/tent -- $100
pad + bag OR quilts -- $150
misc. other clothing -- $100
water treatment supplies -- $30
knife -- $10
misc other clothing (socks, athleticwear, jacket, etc.) -- $50
hiking sticks -- $15
first aid kit -- $10
misc other stuff (map print out, compass, lighter/matches, bowl, gaiters, bug spray, sunscreen, hat, camp shoes, etc.) -- ...$50?
Leaving $85? Could get a stove + pot + fuel for $20, but let's instead say two weeks' worth of food.
Then hitchhike to the nearest national park and go backpacking! Gear'll be largely used but decent and should hold for plenty of 3-season trips no problem.