"Good studio" is a wide open question. Yes, you can start recording for even less than $5000. However, the word "studio" means much more than recording. $5000 for what I would need would not come close. $100,000 is where I start. But don't let that discourage you. 5 grand will get you started for sure. One step at a time. You need to read a lot more and ask yourself what you want out of the business. Where are you starting and where are you recording. Who are your clients going to be and so on. Then, you find out what you need and start there.