For 100$ you can do all right, not great but all right.

Your area in the closet will have to be light tight.
Line the walls you make with black white platic, or make a "tent" out of the black white plastic. Mylar will not be ideal for this area.

6 CFL's will be plenty of light. Read to find out what kind.

Soil, indoor potting soil with perlite added.
Pots, 6 inch square if you can find them.
No room for mother plants so so will need a second set of CFL's to flower. Read to find out what kind.
You will need a fan in there. A small oscillating one will do.

Starting from seed, it will take about 18 weeks before you have results that you can burn. Find a post by Stinkyattic and click the link in her signature, there is a lot of info on everything you will want to ask.

If you are not going to keep a mother (search on Bonsai moms if you are) then your efforts over time may not be worth it for the amount of space you have. ie 6 plants probablyy = less than 2oz dry depending on your strain and environment.

Search on rubbermaid DIY grow box.

Good luck.