i think you should start by deciding which platform you want to work with. generally, studio work requires a lot of capability in terms of flawless punching in and out, editing capacity, the ability to build tempo maps, easy, logical control of effects, panning, volume, eq, etc. many people these days of course use DAWs, which can be quite powerful, though to set up an easy to use DAW involves much more than just a computer - you need a control surface that often costs more than the computer. as well as a high-quality interface - mic pres and converters - that also can cost a LOT of money, as most of the little interfaces do not include studio quality preamps. there are some stand-alone boxes that are worth considering such as the roland VS-2480 and 2400 and others, yamaha and akai. those can get you a long way there with nothing but a good external preamp (actually the pres in the new 2480 are quite an improvement over the earlier versions, and are useable on all but the most critical acoustic applications.) you can pick up a good used VS1880 or so for just a few hundred bucks these days that gives you very nice effects, good control surface, okay EQ, and ease of use. a small external mixer like a mackie can provide all the routing you need for monitoring, additional gear like a CD player to AB your work, etc, without ever being part of the signal chain.
the other primary thing to consider is the space where you will be recording. this is likely the single most important aspect of the final result of your work - a poor space will really hinder you in acheviing pro results, and is a hard beast to conquer. a good place to start for a vocal mic might be the rode NTK tube mic or AT4050 (i sold my neumann TLM103s when i got a pair of NTKs), though there are lots of decent choices these days. i am big on simple drum micing setups - i like a 4-mic arrangment with a D112 on kick, sm57 on snare and an ORTF pair of OHs - any good pair of SD condernsers will usually work here, though some hyped mics can give you too much cymbal sizzle - eith go with flatter mics, or keep them well off axis.