The "Global RCM Trainer 40 arf" right now comes with the Magnum XLS 40BB engine. The only thing you need to put it together is a screwdriver and allen wrenches. It's really a good deal. It's normally $139 w/out engine.
http://www2.towerhobbies.com/cgi-bin...1&I=LXCNT1&P=7

Get more TX then you need (w/in your budget). Computerized mixing and exponential now-a-days is a must. Model memory usually comes with them. That way when you get your next model, you can fly both, and keep them in trim. I like the Hitec Flash 5x.
http://www2.towerhobbies.com/cgi-bin...I=LXNW35**&P=7

Just my opinion though, hope it helps.
--Rick