You can record the standard rock band setup with minimal hardware. Direct input guitar and bass, processed with amp simulation. Electronic drum kit with some go

You can record the standard rock band setup with minimal hardware. Direct input guitar and bass, processed with amp simulation. Electronic drum kit with some good samples (most modern recordings use drum replacement anyway even if they're recording real drums). A single close mic for the vocals, and maybe some basic room treatment, which is relatively easy in the vocal range. Convolution reverb with impulse responses for the acoustics. Most listeners won't be able to tell the difference. Only if you insist on real drums does it become difficult and expensive.