If I was brainwashed and robbed, this is how I'd start flying FPV. Hang on for the firehose of information.
1. Buy a good controller
These are the three I would recommend. They all run the same system called EdgeTX and they all use ExpressLRS (ELRS) for their remote-control link. ELRS nowadays provides the lowest latency and best range. Both EdgeTX and ELRS are open source! This is perfect for longevity, reliability, and keeping prices low. Pick one of these you like. I'd probably decide based on size. All function the same.
2. Buy a $20 simulator
I prefer the FPV simulator called Velocidrone. It is fairly accurate to real world flying and can be installed on any computer or even on mobile! Though, I'd recommend using a computer if you can.
3. Train 20 hours on the simulator
Flying these speed machines is no joke, and you need to prepare for it. If you've ever flown a cheap drone or even a nice DJI drone, chances are you have a decent amount of the muscle memory down to fly FPV. But, you should FIRST purchase a controller and a simulator. Fly in the simulator for at least 20 hours or until you don't feel mental strain in getting the drone to go where you want it to go. Generally, this is a good indicator that you've developed enough muscle memory for the real deal.
4. Buy the rest of the equipment
There are five critical pieces of gear to fly FPV. The Controller, Goggles, Drone, Batteries, and a Battery Charger.
I will only provide recommendations for what I deem as good gear; as much open source, community driven stuff as possible. I recognize and wish to inform you that "my way" is a few hundred dollars more expensive. By spending a little bit more, you open yourself up to expansion and greater system capabilities. I don't see logic in purchasing a cheap kit to start out. If you are starting out, get a controller and train on the simulator, then buy good gear.
My budgets will be $ at $600, $$ at $1000, and $$$ at $1250 (nothing worth it ever comes free)
Goggles
Three main options I'd consider are Analog, HDZero, and DJI. There are others, but these three have their own "best-in-class" performance. Analog has the best prices, availability, nearly the fastest video link, and the best range with a certain 5W video transmitter (VTX). 1W is the legal limit in many areas. As of recent years with new alternatives, Analog is certainly showing it's mediocre video quality. If you want a digital video with the ultimate fastest response times, albiet with less range, go HDZero. If you want the best looking digital video and great range, DJI. Keep in mind with DJI, you are very much locking yourself to the product; you'll very likely have to buy new goggles and video system when DJI brings something new out. I personally would try and buy any goggle used on ebay or elsewhere, but these links are directly from the manufacturer to let you get your bearings.
*The HDZero Goggle 2 is also the best for Analog, if you want that.
Drone
Where you live and where you want to fly will determine the best drone to buy. If you are confined indoors or around people, purchase a tinywhoop. If you can fly in open spaces and parks, consider building a 5 inch drone.
For simplicitiy's sake, I will group all of the Tinywhoops together and separate the 5 inch drone based on the different video systems. There are other parts which will work universally. Those are also listed.
$$ • All Analog • Extra Video Antenna
$$ • Buy these no matter the video system
Make sure you select the proper camera mount when you buy the frame (DJI O4 for O4, Universal for the rest).
Batteries
Not all batteries are created equally. Not all batteries are priced equally. My recommendations sway towards quality/performance over price while still not paying over the top.
Battery Charger
Building your drone
If you purchased a tinywhoop, you can now plug in and fly! If you purchased parts, this is where it gets fun. Either way, I would recommend watching a YouTube playlist by Joshua Bardwell, a prominent figure when it comes to FPV. His playlist, Freestyle FPV Drone Build For Total Beginners covers everything you need to know to build the drone. Keep in mind that the frame, flight controller, and ESC are all different to the build, but the setup is very similar. Refer to this video to learn how to assemble the frame referenced on this page. Everything else Joshua covers applies to building your drone!
Words of Warning
Depending on where you live, drones above a certain weight legally require you to be licensed to fly. I would definitely look up what limitations exist in your area. In the United States, for example, any drone above 250g (most fpv drones) require a Part 107 License and be Remote ID Compliant. While I don't condone flying without a license or Remote ID module with drones above 250g, there are many that choose to.
You will hopefully grasp the power and mobility of these drones when you start flying in real life, but be careful of where, when, and how high you fly. Assuming you need to obtain a license to fly, you will better understand the importance of not flying too close to people, buildings, properties, etc. As long as you're mindful and courteous of others, you'll be just fine.
5. Have fun!
That's the crash course! You now know everything to fly. Now, get out there and have some fun.