You do not need an expensive machine to quilt. You do need a machine that does a good job of maintaining tension, makes even stitches, and can handle the bulk of a quilt. Only really junky machines can't do that. What kind of machine do you have?
In my opinion, the easiest kind of quilt to start with is one that does not require matching a lot of seams. Rail fence is a really good pattern to start with. Bricks (rectangles) are good too, because you can stagger the bricks.
I agree that a rotary cutter, self healing cutting mat and rulers are the real necessities for today's quilting.