I'm wanting to start doing some home recording. I have a minimal budget. What do you recommend? What do I need?
If on a budget, it's best to start with a basic multitrack recorder and some decent microphones. Go online or to your local music store and price some cassette-based "mini-studio" 4-track tape recorders. For your first microphone, you cannot go wrong with the SM57 or SM58. If you can afford a little more, the SM27 is a great studio microphone for people on a budget.
If your budget is larger, you could move to computer based recording for more flexibility. See the following link:
Home Studio - Getting Started