As a little more then a newb, dare I say intermediate, I think you should always try before you buy.

There are demos of programs like FL Studio, Reason, etc. Download some demos and see what you can do.

A midi keyboard isn't necessary, but if you would like to record you playing the piano or whatever, by all means go ahead.

Because your skill won't be the best starting out, I don't know if you have to spend that much. Like there is a learning curve and everything, so anyway...

Your biggest price will probably be software, and you might need some decent cans. Nothing to pricey, definitely the whole setup could be way, way below $500.

Just my two cents. Good luck!

___________________
Tranceport is the best album ever....

There is nothing wrong with being musically diverse.

My Soundcloud

DAW
Some Synths / Sound Packs
Monitors
Midi Controller

That would be about as basic, as basic can get.

I would actually argue that midi controllers are fairly essential. They speed up workflow, allowing you to sample and input quickly.

Sound creation via synths like sylenth and the like, is also incredibly difficult without one. Plus, having it allows you to interact a bit more with your music, and typically increased inspiration happens as a result. You can get a small one for pretty cheap, ~$60 bucks, so no excuse not to get one really.

Best of luck getting into production m8

Sequencer/DAW (Reason, Ableton etc)
Soundcard
Monitors

Softsynths and samples are pretty much included in all serious sequencers. midi controller isnt necesarry. man i think i need to put up my signature again. i keep repeating myself.