WHAT IS NEEDED? for a home based animation studio?

Hey all
what are the essentials for an in home studio? other than a computer running toon boom and maybe a tablet?

and what voice recording software would you guys recommend? and which microphone? thank you

Here is a great series of tutorials presented by my good friend Marty Bish on what you need to record and use sound for your animation work. Create Character Voices For Your Cartoons -JK

I went to guitar center and spent about 300 bucks and am using my walk in closet as well as foam for my studio. it works great. I bought a mic at about 110 dollars and works great. I use Audacity it is free for all my VO work.