A couple things my novice/green/cheap self will throw out there:
Not sure about all quads but friend with a Phantom found out the hard way that the go pro wifi and the Phantom's control are same frequency or interfere with each other some how...Ooops.
Now the cheap part(s):
I got my son a HD wifi "sports" camera.
Had the name indigo on it.
Seen it for less than $70 bucks now.
Obvious knock off, but it does a great job.
Also got him a Syma X5c quad for about $80.
Not close to the class of anything discussed here but for $80 he's learning and better quality and better video than I would have ever guessed for so cheap.