Surprisingly good and still cheap 7-inch frame. Thick strong and stiff arms together with the well made middle section. Not the most spacious inside, but all components fit just fine. It also comes in 5-inch and 6-inch versions.
Armattan Marmotte is probably the best freestyle FPV frame around when it comes to flight characteristics. Especially in a "Space Grade" carbon version. Titanium camera cage adds some swag to the build as well. Marmotte is not the perfect frame for sure, but it's very good for sure.
Holybro Kakute F7
Holybro Kakute F7 managed to do what others failed. It fits powerful STM32F745, OSD, SD Card and enough serial ports for everyone in a form factor only slightly bigger than standard 36x36mm. The unique feature of the whole Kakute series is a gyroscope installed on a separate board connected with the main board with a thin ribbon cable and sponge. It helps to keep gyro noise under control. Made to use together with 4-in-1 ESCs like Tekko32
Mamba F405 and 40A ESC
It's amazing how much you can get for $45 these days. For example, surprisingly well made Mamba F405 flight controller and 40A 4-in-1 ESC combo. It might be missing some things comparing to twice-the-price bigger brothers, but for $45 you can not really complain a lot.
Matek F722-SE is probably the best STM32F7 flight controller for drones on the market. Integrated OSD, power distribution board, output for 6 motors or 4 motors and 2 servos, integrated camera switcher and "power on a switch" function. INAV, Cleanflight, and Betaflight supported. Enough Serial ports of everything you need, including ESC telemetry.
Holybro Kakute F4 & Tekko32
For quite a long time I was against 4-in-1 ESC. After getting this all in one I changed my mind. Holybro Kakute F4 & Tekko32 35A 4-in-1 combo is the thing. Good quality, good design, easy to solder and with all serial ports you will need. On top of that, BlHeli_32 ESC telemetry works out of the box
You need a motor to fly! Even the best electronics will not solve the problem of too weak or poorly selected motor on a drone or airplane. This is why, right after choosing a frame and propeller size, you should choose a motor. There are many factors that should be taken into consideration and KV is only one of them. Many beginners make a mistake or putting 7" propellers on motors designed for 5" props. This will just not work. Below are a few propositions for 5" and 7" drones as well as airplanes.
iFlight XING-E 2208
Believe it or not, but since case of drone motors, size does matter! XING-E 2208 delivers quite an "oomph" interms of torque, power and response. Perfect for driving 5" and 6" propellers. When needed, will work with 7-inch propellers as well. 2450KV version works great on 4S and 5" while 1700KV will do wonders on 6S. And they come in "pretty" colors too! I love 2450KV version on my 4S freestyle Armattan Marmotte with Ethix S3 props. And those motors are surprisingly efficient as well..
Flywoo NIN 2207
The first thing that catches the eye when you look at Flywoo NIN N2207 is how shiny they are. But let not pretty look fool you! Those are very good motors for 4S at 2450KV and 6S at 1750KV. Plenty of torque and power for a dynamic freestyle or a FPV race.
EMAX RS2 2206
For its size, EMAX RS2 2206 drone motor offers quite a lot of torque and smoothness. This is quite a achivements since it is only 2206! Comes in a variety of KV ratings and can be used on with 3S (anybody flies at 3S?), 4S, 5S and 6S. It shines with 5-inch propellers but can be used with 6-inch props as well. I do not recommend putting RS 2206 on a 7-inch drone! It will fly, but barely and it's really not worth the effort.
Brotherhobby 2507 Avenger V2
Avenger V2 is a monster that 7-inch quadcopter drones will love. It comes in various KV variants and delivers an incredible amount of torque in every one of them. 1200KV version will make a good cruiser on 4S or freestyle kwad on 6S. 1750KV and 4S make great freestyler while 1500KV seems like a good compromise between torque and efficiency. Two out of three of my 7-inch drones use Avenger v2!
Racestar BR2508S 1275KV
7-inch long range on a budget? Those are not the best motors ever but neither the less, they work and that's what counts. No problems to spin even heaviest 7-inch propellers.
Brotherhobby Avenger 2806.5
Another Brotherhobby Avenger? Yes, but this time in 2806.5 size. Big stator volume, a lot of torque, big bearings, and smooth work are where this motor shine. Pair it with a good 7-inch propeller and you are ready to go. 1300KV will work great with 6S while 1700KV is designed for 4S.
Dalprop Nepal N1
What a great, freestyle, 5-inch propellers those Nepal N1 are! Smooth, agile, very nice handling. On top of that, very little propwash and what is left is very easy to tune out. Currently, my propellers of choice. I wish they start to make them in the 7-inch size.
Great HQProp propellers sold under Mr Steele's brand. Ethix S3 are a great example that low pitch prop can be a great choice for freestyle flying. Low pitch and low weight results in a very fast response and a shitload of control. If I would have to choose between S3 and Nepal N1 I would have to think a lot...
HQProp 7x4x3 V1S
If Nepal N1 is my 5-inch propeller of choice, then HQProp 7x4x3 V1S in my 7-inch propeller of choice. Smooth, durable and with good efficiency. They beat almost every other 7-inch prop in every aspect besides raw thrust. But with enough KV it does not really matter.
HQProp DP 5x4.5x3 V1S
HQProp 5x4.5x3 V1S is another great freestyle propeller from HQProp. They do make a lot of great propellers, don't they? V1S comes in many shapes as sizes, this particular one is a nice compromise between handling and power. Yes, it has some oomph, but also will help you to fly precisely how you want.
Sensors and all the rest
Beitian BN-880 GPS with a compass
Beitian BN-880 GPS is probably the best value for the price. It might not be small or super light (two boards connected together) but it gets the job done. GPS, Glonass, Beiduo, Galileo and HMC5883l compass. It's my main choice where weight or size is not the main factor. Currently, I own like 8 of them!
Matek Optical Flow & Lidar
GPS is not the only sensor drones can use to keep a designated position. Another one is a combination of Optical Flow and Lidar rangefinder. It's almost like an optical mouse. Optical Flow observes the pattern on the ground below the drone to determine movement. As a result, you can have a very precise positioning indoors when a GPS signal is not available or weak. Matek Optical Flow & Lidar is supported by INAV.
Matek SAM-M8Q + HMC5883l GPS Module
State of the art GPS module for FPV drones? Matek SAM-M8Q maybe is not the perfect one, but it's pretty close! Small form factor, good quality components, built-in magnetometer. Everything that you FPV drone might ever need.
Vifly Finder V2
Finding a downed drone or airplane can be a major pain in the ass. Especially when the main battery disconnected and a buzzer is not working. ViFly Finder partially solves the problem: it has own battery and starts to emit a loud noise and LED flashes when it detects disconnected main battery. Of course, it can act as a standard buzzer too! And yes, it's bloody loud!