Others have pointed out, hire a DP. They may or may not come with gear, but they'll have the knowledge and experience to select what's appropriate for the shoot and budget.
If you are detemined to gear up yourself, and you're started with nothing, then budget 1/3 for camera, 1/3 for lens, and 1/3 for lights.
Oh, and reserve half the total budget for sound. Unless you're experienced with production sound, you'll spend less by hiring a production sound mixer w/gear than trying to gear up, and then spend years honing the craft of production sound. I started as a production sound mixer and quite often, my kit was worth more than the entire camera departments kit. As an example 1 channel of quality wireless with a mid tier lav cost more than most of the lens I see on indie shoots.
Lighting is also vital. I've seen great looking stuff, well lit, shot on a T2i that smoked stuff shot on a 5D with poor lighting.
Flags, C-stands, diffusion material, corrective gels, ND filters, dolly, jib, sliders, wardrobe, craft services, transportation and insurance all add up.
And don't foget edit and post. For every minute of screen footage, expect to spend 20 hrs in post on edit, color correction, grading, and audio post.
I typically start with the script breakdown, then shot list, and only then begin to understand the requirements for camera, lighting, and sound.
So I am in the process of developing my first indie film. I am thinking about getting a budget between $10'000-$20'000.
Now every year I come on here and see the latest cameras being pushed. Canon GL2, Canon Xl2, Panasonic DVX100B, Canon 5D..
What is the best camera for me to get that is in my budget. Now think my whole budget will go towards the whole production not just the camera.
Any advice on the latest and greatest camera to get the professional quality I am looking for