You can go to ATP and do the 8 hour program if you're looking to do this super cheap. If you're in the midwest there is a guy with an Apache in MI that does it for cheap believe his name is Tom Brady. http://www.traverseair.com/multi.php
There is no minimum time requirement per the FARs if you're adding the multi-engine rating to an existing pilot certificate. It is a "train to proficiency" requirement which means you need as many hours as it takes for you to become proficient enough to pass the practical test (oral and flight portions).
As for simulator time, in order for it to count towards your training for a multi-engine rating it must have been completed in accordance with an approved Part 142 training course.
As has been stated, according to FAR 61.63(c)(4), there is no minimum time requirement. So there's nothing for simulator time to "count" towards.
However, you are perfectly free to use as much sim time as you want in preparing for the practical test. I've signed students off for multi-engine add-on ratings with next to no time in the plane because we did tons of hours in the sim. So in that sense, it counts.
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