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Just google it, there's lots of ~$500-$800 builds that will outperform the consoles, the main question is whether or not you have any of the peripherals (mouse/keyboard/monitor).

Honestly, I just hook my PC up to my 4k big screen and it works absolutely fine with almost no detectable lag... it would probably get in the way in a competitive fps a bit, but that's mostly it.

If you have a previous PC you could also save some money by re-purposing the HD/RAM etc, though you'd probably want some more RAM.

Again, there's lots of builds online, I'd just recommend following their guides.