Well, what I have already outlined *is* the cheap version, for between two and three thousand dollars or so you will get identical results to the forty thousand euro Muller HDS+ film scanner (
http://www.filmfabriek.nl), and similar results to the $100,000 ScanStation.
Same light source, better lens and same sensor, but with the ability to do 35mm.
But for the really low budgets (under a grand)...
If you want to go bargain basement, the cheapest, that is still worth bothering with is:
Get a broken projector (free or a few hundred dollars)
Take the LED light source out of a cheap photo scanner, or use a DC halogen light and a cold mirror: $30
Get a CompononS lens: $100 or cheaper second hand
Get a cheap machine vision camera: $465
https://www.ptgrey.com/chameleon3-32-mp-...sonyimx265
Get the magnet and hall effect sensor and related circuitry (resistor and vero board) : $10
Extension tubes and adaptors from ebay $30
Helical focuser or macro rail or bellows : $30 2nd hand
This will give close to professional level results for around $700 if you shop around and scrounge. You could get a cheaper camera, especially if you look at firewire 2nd hand, like an older Grasshopper model, or a slower 2nd hand astronomy camera, but the camera and lens and light source are where the quality is.
(e.g. A good one here for $329
https://www.ebay.com/itm/Point-Grey-GS3-...2654692999)
Basically, hook up the light, mount the lens on the camera, point it at the film gate, advance the frame and the magnet will trigger the camera to take a photo, rinse and repeat.