Home Studio Equipment

I want to make my own music, but I do not have the proper equipment to do so. I browsed amazon, google, etc. to find what will be the best bang for my buck, and get to making my own music. I know what I need, but the question is: Out of all the options of different music recording hardware and software, which of them is the best bang for my buck?

I would like to use MIDI, might make things easier. I need a guitar input and microphones. I do not have any MIDI instruments or anything yet.

Would if we know what style of music and a budget........i'm guessing Metal! 

(Alesis io2 is excellent for the money)