. . . Have you seen the prices for actual lights? Not LED, like Mole Richardson, SunRay, Arri, or Kino Flo kits? Then have you seen the prices to get them fixed if they break?
[Decided to include a link if you'd like to see the price of such kits.
http://www.bhphotovideo.com/c/product/166978-REG/Mole_Richardson_5826_Tweenie_II_4.html btw, those stands suck, so you'll want to upgrade those and get some sandbags as well.
http://www.bhphotovideo.com/c/product/139497-REG/Matthews_387031_Hollywood_Beefy_Baby_Steel.html ]
Rental studios have 1 thing more than anything else, lights.
Cameras also aren't constantly changing. The life span of the Alexa has been great. Life spans of each RED model are also spectacular.
Although once again, if I were on a serious shoot, I'd rent one of those, not buy.
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For practice? I'd get a Canon or Blackmagic camera and maybe the cheapest Mole Richardson kit I could come by that was for three point lighting + some china balls. (HomeDepot if you want to practice Kinos)