Actually you can get into rabbits really inexpensively. The most expensive item would be a cage. Either you can buy your own materials and build it yourself, or have a pre fab cage. I spent $60 on craigslist for a really nice cage with four separate sections for housing rabbits in different areas. Usually you can then purchase a meat rabbit (depending on what breed) between $15-$30 per rabbit. I actually got mine for free. Its possible to find people that will just get rid of them. Of course this is for meat, so you will want to get some sort of meat breed. I have Rex rabbits, which are one of the more popular meat breeds.
All you need is two rabbits to start (a male and a female) Nature will take its course when you introduce the two of them. Always introduce the female into the males area (females can be territorial and attack), The female rabbit can have babies every 30 days. On average 6 a litter. Rex rabbits can weigh between 9 to 15 pounds. When the babies are 10 weeks old you separate them from the mother. I also separate them putting males in one cage and females into another. Rabbits are considered matured for slaughter at 12 weeks. A rabbit would be considered full adult by 1 year old. I typically slaughter the rabbit at 16 weeks. I spend approximately $3 per rabbit for food each month. So approximately for each rabbit I raise I spend $12 for food, for an average of 10 pounds of meat @ $10-$15 per pound.