Such good input from club members! Now for some of my gear-head geek stuff;
Mics and preamps - I have found that certain mics work well with certain preamps to record certain things.
You have to experiment and compare. For instance, my C414 works great with my inexpensive Presonus MP20 on percussion. My ADK Vienna works super on my Focusrite green 'thing' ( I don’t know what model it is, has 1 in and 1 out) if I set the EQ just so. My ART MPA Gold seems to do nothing, even though I have tested it a lot with various tubes and settings (I still have hope to find out it will do something with the right mic). An RNC compressor is a handy thing to have. etc.
I use a Presonus Firestudio input unit, which you can chain together for more inputs. They seem to work fine.
Mics; I don't have super high end mics. I do have a lot of mics though (50 plus). I collect them. I get a lot at the Goodwill outlet store near me. One in 3 typically works, and 1 in 3 needs a simple wire reattached. The last 1 in 3 usually has a bad capsule. I buy cheap metal karaoke mics and pull the capsules from other oddball vintage mics and solder them into the cheap mic body. I have created some superb mics that way!
I love Shure SM58's and have 15 or so. I much prefer them to SM57's. After A - B testing dozens of SM58s and 57s I have concluded that the older gray body ones are better for recording than new black body ones. I sold off all the newer ones I had. Live I can't tell the difference.
Drums: I have 15 - 20 snares and 4 great kits, but I usually use a aluminum Ludwig Acrolite (I have 2) snare for recording 75% of the time. I also use Superior Drummer software plugin and I even sample my own drums and use software to put them into my tunes (I am NOT a studio drummer). I use an Evens drum key (the one like a torque wrench) and the Tune-bot to tune them. I use SM58s on toms, but the MD421 is the industry standard, and for good reason. I have foam all around my drum room and some on the ceiling, as I don't have a great sounding room. Kick drums work well with Shure Beta 52s or The Egg.
I DI bass into an Alembic F2B or F1X into my DAW (usually the F2B).
Plug ins: Love them! Waves has great sales all the time. I master my own stuff too. I usually have a mastering plug in on my tunes at the end of the signal chain all the time so that I can hear up front what it will be doing. The Waves L2 is easy to use and works well, though certain things will get pulled down when a lot is going on and they seem to narrow the stereo width somewhat. I have Bob Katzs book on mastering and it is very complicated, so I finally just went to using the 3 slider Waves mastering plug in. I also have a somewhat rare 2 track Meek SC3 optical mastering compressor, but don't use it much.
Monitor speakers: I have great sounding speakers for tracking because people playing like to think they sound great and they play better! These speakers are NOT for critical listening! I have 6 - 8 pairs of good headphones. Mixing: I just replaced my Event 20-20 BAS internal amped speakers with JBL LSR4326ps that you can tune to your room with the included mic. However, the Events sounded fine and are a great bargain. They also made a sub to go with them, if you can find it. I use a JBL Sub. I understand Genelecs are super monitors, but out of my price range.
The biggest thing is making sure you have a great sound going in from your instrument and amp (often overlooked). You can always 'dumb down' your sound to make it sit well in the mix, but 'dumbing up' is a lot harder.
Vocals; Get a good book about recording vocals. Different mics may work best for various singers; test them with your vocalist. Find a good space to record singers and get them a good headphone mix. They may want reverb etc on the headphone mix (don't record the effects, add them later). The human voice is only good for so long in the studio. Learn to recognize when your singer has had enough and then stop. Often they will either be wanting to quit OR they will insist that the 'next take' will be the one. this also holds true for players as well.
You would think that to record a great song you want every instrument to sound perfect and clear (logic will tell you this) but that is not the case at mix down.
There seems to be several stages of learning about recording that I hear on peoples demos:
First they just get it all down and recorded come what may
They then start to pay attention the how each track sounds
Then they realize that the song structure should be well crafted and the timing should be good
Then they try to make every track individually sound perfect
Then they realize that each track needs to Serve the Song
Then they realize that often Less is More
Then they realize that the Vocal is what matters these days, on most songs, and stuff like guitar solos etc are not as popular as they once were.
Then they mix to get a song that will appeal to the intended audience
Of course this is just my opinion and I am neglecting many types of music here and that there are other stages and ways to record, many of which I have yet to learn. In addition, I have seen engineers that are either limited in knowledge or equipment or they are just good business persons, who have figured out that being nice and easy to get along with in the studio is a great selling point, and being that way, as opposed to getting the most out of a tune, will get you more business than being a perfectionist! I have also seen many bands break up during the recording process, as it will bring problems the band already has to the fore.
Lastly, getting paid! Get money up front. Decide either to charge a flat rate (has many pitfalls) or by the hour.