Welding equipment is a totally "get what you pay for" deal. Best advice is to get the best machine you can afford.
Generally speaking, "most" 110v units are really light duty. They are capable of doing lots of things... as long as you don't outwork the machine, or overload the circuit that it's plugged into... Consider 1 minute arcs with 9 minute breaks.
Without guessing which unit you scored, (am assuming a small stick box) think about projects you can build from common junk... small pieces of joined scrap- and progressing to work tables, carts, & BS like that. Getting the metal surfaces to be joined "really clean" is a constant.