Presumably that means what Ghostwheels' rules call a 'Least Magic Item', costing up to 4,000 gold. My preferred choice of lewtz will be an Amulet of Elemental Strife (http://www.d20pfsrd.com/magic-items/wondrous-items/wondrous-items/a-b/amulet-of-elemental-strife). The defensive benefits aren't bad, and being able to bypass DR/-, even if only against Elementals, is pretty darn good for an item that cheap. Plus, this is Planescape, we'll meet elementals sooner or later.