After I decided to self-host, I had no option but to go with a free theme, as I couldn't (still can't) afford a paid one.
I wanted a magazine template with an image slider, so I searched for those and tried a few ones that looked promising.
In the end I settled with Suffusion as it was the most flexible one I found, but also was one of the easier ones to set up.
That being said, there is a learning curve with Suffusion and to me the biggest problem is remembering what I did way back when, as I don't change the layout that much.
Setting up the slider:
Go to appearance, Suffusion options, other graphical elements and choose Featured Content. Once there you can choose how many images (or posts, or pages) you want to display and where you want them to show (as in: front page, every page etc..).Now, for some reason I chose to feature pages, which lead to other problems (when I was setting the magazine template).
First you are going to decide where the slider will appear, scroll down to Where to Show and choose what works best for you. I chose to only have the slider on the front page, so aside from that option, everything else is disabled.
Under What to Show you have the option of choosing how many things you want showcased. You can choose by page, post, category or tag. I think you can also combine more than one option, but haven't tried this. Like I said, I chose pages to show (which in hindsight was a mistake).
You can also choose how many to show. On that set up page, they say you shouldn't have too many or the slider becomes too slow. I have 7 pages set up and so far haven't noticed any problems.
Under How to Show you're going to select what the theme engine will look for. You might need to play a little bit with the order (drag and drop) until the images show. I use NextGEN with Wordpress, and for me what worked was to have the list in this order:
The other features for the slider - color, text etc., are up to you. Try them out and see which one you like best.