Actually just have a look at the series of videos on here called low cost racing mini quadcopter build (it's not perfect and there's a lot of stuff I'd do differently but you can at least get an idea of what's involved and whether it all looks like too much hassle):
https://www.youtube.com/channel/UCahqHs ... Mmj2D5i1VwIf you do decide to start ordering stuff just ask if it looks right and I'll have a look, this stuff changes by the week almost.
If you don't fancy building one you could probably do a lot worse than just buying something like one of these (I'd probably recommend just doing this to begin with, there's plenty enough to faff around with even when you do get one ready built and you could really only save pence by getting all these bits separately):
http://www.quadcopters.co.uk/emax-night ... 1965-p.aspThat one seems to have all the right bits on it, 2204 size motors, Naze 32 control board and BLHeli ESCs. That combination should always fly pretty well.
But you're still not done, you'll need radio gear for controlling it, batteries and a charger for them, something to receive and view the transmitted video on and optionally an HD recording camera to put on there if you want decent footage.
This is a good option to expensive goggles:
http://www.hobbyking.com/hobbyking/stor ... ouse_.htmlYou'll also need a video receiver:
http://www.hobbyking.com/hobbyking/stor ... ouse_.htmlThese batteries are pretty decent (you'll want a few of these):
http://www.hobbyking.com/hobbyking/stor ... ouse_.htmlCharger, something like this:
http://www.hobbyking.com/hobbyking/stor ... Plug_.htmlRadio gear, cheap:
http://www.hobbyking.com/hobbyking/stor ... ouse_.htmlMid:
http://hobby-hangar.co.uk/radio-sets/13 ... 81766.htmlAnd I have one of these, it's a bit more expensive but probably all the radio you'd ever need for anything but a bit OTT for just a racing quad:
http://www.t9hobbysport.com/frsky-taran ... ransmitterThen there's the recording camera, again there are options here. I use a Mobius on mine as I crash a lot and they're reasonably cheap, although I haven't broken one yet:
http://www.ebay.co.uk/itm/Mobius-Action ... 259ec59e64Then there's the Runcam HD2, or Foxeer Legend and finally a GoPro but they're like £300 and I'd be too scared to fly the thing properly if I put my GoPro on it.
I think that's everything. It all adds up really, especially if you just want to fly a racing quad and not loads of other stuff like me and Zardoz do because then you just sort of gather the bits as you go along. So the message to take away there is that it seems expensive just to fly a mini-quad unless you also buy a load of planes and stuff to make the most of your investment in FPV and radio gear so do that too.