And you'd be sharply limited in the kinds of projects you could produce. If you were on a budget, you'd probably stick with a tried-and-true Tascam or Yamaha four-track tape recorder and Alesis compressor, get used to bouncing tracks in mono, make peace with tape hiss, and remember to clean the tape heads every week. In other words, you were looking at about $10K to $15K worth of gear to start-and that's before you got to microphones, speakers, and other accessories. Twenty years ago, to record a music album at a professional level, you needed a sizable mixing console, several eight-track digital records (such as ADATs or DA-88s), and a good selection of outboard compressors, reverb units, and other effects, plus a two-track deck to mix down to.
There has never been a better time to buy digital audio workstation (DAW) software.