That really depends on the corals you'll be trying to keep. I'd suggest all softies. You won't need a skimmer or a 'fuge. In my opinion, simplicity is a beautiful thing when it comes to picos. Use a hang-on or submersible filter, add a decent light and you're ready to go. You could use a heater if you want but if you're just doing softies, it shouldn't matter. Just keep it away from sunlight, windows, and vents.
Picos are cheap, but the cost depends on what tank and equipment you choose. My old picos were no more than $50.
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