You can get a lot accomplished with Ironmaster dumbbells and one of their super benches. Powerblocks are another option.
Holding two dumbbells at my sides doing strict deep squats are a great exercise. Guys who use 400lbs in squats find doing deep reps with two 100lbs dumbbells tough.
If you have more room get a power cage from Powertec. Get an olympic bar, bench, cage and you're in buisness. Maybe a pulley system for the cage.
Craigs list you can get some deals.
You can get a serious in shape body doing just bodyweight stuff. Chins, dips, body weight rows, single leg squats, various jumps for power, single leg calf raises, ab work,, sprints and other exercises will get you ripped and in shape. Go to Rosstraining.com and check out his book Never gymless. You won't look like a drugged up bodybuilder but you will be able to hang with just about anyone using body weight exercises.