I've seen one at Wally World that costs just $79. It's made of thin sheet metal and is poorly constructed. My guess is that it would probably work, but controlling the temperature would be difficult. And that thin sheet metal would rust through after a few seasons of use.
High quality offset smokers are made of heavy quarter-inch thick steel. All the moving parts (lids, covers, intake and exhaust adjusters) fit well and work smoothly. The Oklahoma Joe smoker pictured to the left is a good example of a well make smoker.
Run the temperature between 275-300°F when smoking poultry with the skin on. At the higher temperature the skin will become brown and crispy, while the meat gets its smoky flavor.
But what you may not know is that suffocating fire is burning dirty. It's creating a lot of creosote, which is coating your food. And that's something you don't want. Creosote will ruin any food it touches with a tongue-numbing bitter taste.
If things are getting too hot in the smoker, open things up instead. Open the fire box lid wide for a few minutes to let things cool down. Remove a few of the hot coals and go with a smaller fire. When the temperature has dropped, close things back up a little. Burning a smaller fire should do the trick.
Add smaller pieces of wood or less charcoal when fueling the beast. Your offset pit smoker will do a good job of barbecuing if you remember that a small, clean burning, hot fire is the way to go.