I picked up a $6 nonstick iron from Walmart a few days ago. At first I layered some tin foil on it for waxing but it kept tearing, so I just said fuckit and took the foil off and waxed that way. It actually worked really well. And for an iron that I am only going to use for waxing (I don't iron any of my clothes), it's not so bad!
edit: Oh and the nonstick part worked really well. I just wiped off the wax from the iron with a paper towel
lol i did exactly the same
got walmart's cheapest iron and it works fine. the only problem is when you are heating iron, wax in the holes starts to burn. But when you put iron on the board with some more wax it disappears.