A $50,000 budget, and written, directed, produced, and music written all by the same guy is inevitably a recipe for disaster. The single exception I know of is this movie, which is simply stunning.
Invest an hour and a half of your time on this steady-paced masterpiece and you'll experience not only a great movie but the realisation that you can achieve one hell of a lot for $50,000 if you are multi-talented. The production values alone would indicate a $5m budget (the special effects are wholly convincing - just those alone would surely have cost $50,000?), it's really that good. The story too is fabulously constructed and paced - the movie grows from being about a clever (but weird) con game into being something else entirely.
I love this movie, and I love that it's right up there with other good movies while having cost a tiny fraction of their budgets. Go watch it.