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Originally Posted by Linkster
Thats a pretty small budget for a studio - figure just the recorder (for a general quality one) is going to be at least half of that - if you have a good idea of what type of stuff you plan to do it would be helpful as it would make a big difference if you do everything midi already - or if you are doing a lot of acoustical playing/singing etc - let us know and Ill try to give you some recommendations on what Ive seen do well and what sucks 
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I'm not going to be producing smash hits from here just taking sound and fucking wth it.