As Larry mentioned the Avistar can be very aerobatic and performs pretty well with the supplied engine. This combo is $279.95. Right within your budget. I have one myself. Here is a link... http://www2.towerhobbies.com/cgi-bin...I=LXMU53**&P=0

This combo includes....

INCLUDES: Pre-Installed .40LA Engine, Fuel Tank, Fuel Tubing, and Futaba radio, Pre-Covered Wing Halves w/Metal Dowel Rod Joiner and Nylon Straps. Pre-Covered Bolt-Together Tail Sections w/Hardware. Wire Landing Gear w/Mounting Straps, Wheel Collars, Screws and 2-3/4" Wheels. 2-1/4" Spinner and Propeller w/Mounting Screws. Step-By-Step Instructions.

REQUIRES: Misc. Items: Some of this he probably already has?
Glow Fuel,
Phillips Head Screwdriver,
Pliers,
#64 rubber bands, and
Field Equipment - starting stick, glow ignitor, battery testor if desired, etc. This can go on and on....

5/64" allen wrench to tighten the screw in the radio compartment.
You can download the manual here... It will inform you of things needed and pictures of how they look in the front of the manual...
http://www.hobbico.com/manuals/hcaa16-manual.pdf