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If you're going to France and you're visiting Toulouse, I'd say you should probably start touring the cities churches, for example there's the Jacobins church, one of my favourites.
Also, like in the rest of France, Toulouse has a number of interesting museums; if you have time, don't hesitate to visit all of them. In general, Toulouse is a lovely city, its streets, its people and restaurants make a charming scene...
I could recommend a few hotels where you won't be spending more than 60 Euros a day, have in mind that France is an expensive place for accommodations.
For cheap accommodations there's the Albion Hotel, the Royal Wilson, and the Heliot Hotel.
Plus, hire a car in Toulouse and secure a comfortable stay in this lovely city in France.