You want cheap? Buy a few dozen books on recording, audio engineering and so on. That's how everyone should start. Then see if you can sit in on a few sessions at a studio in your hometown and absorb what you can, maybe assist a few sessions.
THEN lay down the cold hard cash.
Honestly, recording is one of the worst things to just 'jump into' because before you know it you've wasted 5 thousand bucks on stuff you don't need. I'm glad I took my time and went from borrowing a 4 track, to getting my own and using that for 7 or 8 years and then thinking about going into digital because it finally became affordable.
If you're serious about wanting to learn the craft by all means do it. If you are trying to save a few bucks and record your band... you need to go to a studio and record.