I have a GTX 1060 myself and it barely makes a profit if I was mining. This might be due to my high electricity costs of about 30 cents/kWh but my recent calculation for my revenue was about 1€ worth of Ether but paying about 60 cents in electricity, so a net profit of about 40 cents a day.

Ethereum requires a huge amount of graphics memory, about 3GB and soon more. Therefore cheap cards cannot mine Ethereum reliably as they often lack enough memory. To cite a post from stackexchange (https://ethereum.stackexchange.com/questions/426/what-is-the-current-dag-size-when-do-we-expect-to-hit-gpu-limits):
"The 3GB limit will be hit around mid-April 2018".
This means that from April 2018 on you need atleast 4GB video memory on your GPUs to mine Ethereum.

As a rough approximation, I'll take a card of 200€ and expect a profit of about 50 cents. This gives me a ROI time of 400 days. It takes me over a whole year running the card 24/7 to barely break even. Factor in the noise and heat, you probably do not want to do this in your own room or appartment.

The only chance you have are other altcoins which are not as memory hungry. Mining those early on might give you big rewards when they hit an exchange, but you could also end up with a net loss because the coin does not gather interested folks and fails. This will leave you with a huge electricity bill and little to no value in coins.

Unless you have super cheap electricity or super cheap hardware, it just does not make sense to get a dedicated mining rig with such a low budget.