That one does come with a regulator for gas and hose. You will need to purchase a tank of gas (you can lease them at your local gas supplier, but buying the tank outright is probably a better thing for the occasional user). When they say ready to weld out of the box, they just mean with flux core. Unfortunately if you read the small print on HF's 20% off coupons, it says excludes welders, etc.
Crenwelge is right, that you'll find yourself doing more welding than you expect. Once friends know you have a welder, they'll find projects for you to do.
