I see a lot of people still ask for recommendation on parts even though there is tons of info out there... Shall we come up with some mini quad parts list that we can refer to when beginners get confused?

1 - cheap build yet perform relatively well
2 - mid range build, not necessary the best quality but performance is top notch
3 - deluxe build with the best parts, in user friendliness, quality and performance

We can update them when there are new parts that fit better

Let me know your suggestion 

Great idea.. We need volunteers for this task. any takers?

3 Forum members
1 for beginners parts list.
1 for medium parts list.
1 for top notch parts list.

Then we can add as things change like Oscar mentioned.

Something like this? Everything here is cheap and widely available.

Beginner

Frame: ZMR 250
FC: Naze32/CC3D
Motor: Emax MT2204
ESC: Littlebee 20A
FPV Transmitter: TS5823 200mw
FPV Camera: Eachine CCD 700 tvl

I've found that miniquadbros.com's kits are an excellent place to start for a quality beginner quad. Especially because they update their kits frequently. I bought mine there probably 4 months ago and they've already updated the kit to have better (but still cheap) beginner parts.

The kit in question.

It's very close to what HamsterFPV recommended.

This is a great idea, but I think maybe it should be 3 separate sticky threads that all members could post to. cause there's going to be a lot of different opinions about parts, and it's hard to recommend a part to someone without having tried it first. so maybe have 3 separate stickies in the beginners help area?

or better yet, we should have a customer's review section. where members can post they're thoughts on products that they have used, or are using.

As a beginner I'd like to see such lists with some explanation of "why" or what feature makes this better than part XX that I can also afford. As an example:

Frame: ZMR 250 (Link to specific supplier/s of the version being discussed)
- Has a lot of predrilled mounting positions making it easy to adapt to different gear in the future
- will easily carry a 3S or 4S battery of larger capacity so you can get longer flight times
- able to easily mount a few common motor sizes

I feel this kind of thing is important, especially for flight controls and other electronics. Saying buy this because it works with Cleanflight is a cop-out because a beginner won't know or understand the value of this. Whereas saying works with Cleanflight and GPS options to do advanced stuff like "Return to Home" and do "automated navigation". I know it makes a lot more work giving advice, but we are talking about significant investments into a hobby versus someone spending $100 to hack around with one of the billionty Ready-to-Fly units.

I think it'd be nice if you had one list of parts for each category and maybe 2-3 alternative parts if the first part can't be sourced/supplied by distributors and such.
Not sure if you can relate but if you list 100 parts, it feels kind of pointless because it's just like telling a beginner that they can pick a CPU for a new computer from the i3, i5 or i7 range and listing every single CPU.
I wouldn't recommend someone go buy an i3 (dual core) for example if they wanted to play hardcore games. Neither would I recommend them buying an expensive $1500 i7 (quad core + HT) if they only browsed the net + watch youtube.

For option 1 - begginer + affordable:
i don't know yet how it is about direct linking to the shops with parts, recently new starter set ARF can be found on popular site bg, look for "Realacc X210 4mm Frame w/ F3 6 DOF Racerstar BR2205 2300KV Motor RS20A V2 ESC Kingkong 5X4X3 Prop"
ontop of that buy a buzzer... to search for quad.

to this you will need to add TX i would recommend Flysky FS-i6 + receiver (if possible grab B verion for PPM/ibus)
and some batteries (SLS 1300 40c)

and you are ready for initial LOSing... when you are comfortable with it, add camera + vtx (aomway 200) + quantum cyclops and you can stop loosing... and start FPV

I was a beginner 3 months ago and know completely nothing about a quads. Now I'm still are but know a lot more and fly few times with my own fpv build racer quad. After watching every yt video about this hobby I went for shopping. I don't want to spend milion dolars on this because I was not sure that I will have fun with that and also time for fly so that will be the cheapest build that I could make BUT! that are nor a crappy parts like I ordered first time.

First of all. You want it cheap It will not be! If you haven't about $300 don't even start. Believe me I tried to make it cheap and you can buy cheap parts but there are so many things that you need and don't ever realize you will for now. I'm not talking about the basic tools like glue gun, solder iron etc. there are a lot more, but for starters:

If you have some time and don't want to spend a lot of money buy in China. There are the cheapest components in the world. There are 3 main sites:

Aliexpress - http://www.aliexpress.com/ (Chinese eBay)
BangGood - http://www.banggood.com/ (Chinese online shop)
GearBest - http://gearbest.com/ (Chinese online shop)

Search, compare and read the buyers reviews. Choose the best option for this components:

Frame - ZMR250, QAV210, QAV-R (doesn't really matter) whatever suits you the best or whatever is the cheapest.
Flight Controller -  Naze32, SP Racing F303 (CC3D is old and don't give you that much possibilities like for example Naze32)
ESC - Racerstar RS30A V2 30A (New, good quality, cheap and if you don't brake them can be used with better motors, better lipos (4s) and better propellers in the future)
Motors - Racerstar Racing Edition 2205 BR2205 2300KV (Very good opinions and very cheap motors with a lot of power. Much better than  Emax MT2204)
PDB - You can buy the simplest one they are cheap but probably you will buy another in the future with voltage regulators for more advanced builds like this one
FPV Camera - You can go with the cheapest one 800TVL for $10  or buy something that is easier to mount and change angle and will feet most of the frames Like this one
HD Camera - Mobius or Xiaomi Yi or any other action cam will work. Mobius has a good shape it is easy to mount this but maybe harder to angle. Thare are a lot angle ready plastic mounts for GoPro or similar that you can use on Xiaomi Yi
Googles - Are better than monitor on a tripod right? I suggest Quannum v2 Pro. Cheap, good quality, you can use any video reciver with them and power it with any lipo (3S)
Radio -  FlySky FS-i6 good 6 channel radio for beginners with lots of possibilities for example 10 channels firmware mod in the future (buy only with Ia6B reciver)
Lipos - Cheaper but better for begginers 3S with at least 40C. Probably 1300-1500mah (bigger lipo will be to heavy)
Charger - Imax B6 or any other 4 button charger with balancer. 
Video transmitter - TS5828 small, cheap 32 channels 600
Video reciver - RC832 cheap and works fine.