That's pretty much how we started out last season - one charter in the spring and one in the summer with lots of question and answer.
If you want the Magdas, you can get pretty cheap combos here, $50 to $70 each: http://www.brettsplaceonthebay.com/cate ... red&page=1
The next step up in Okuma is the Convector reel and you can find combos around $100 - $110 each. Their line of Classic Pro GLT rod is good and about the same price point as the Heartland rods.
We're pretty bargain basement ourselves, running Magda combos for downriggers and planers, Convector wire combos for dipsies and used Penn 209s on Fenwick Rigger Sticks as backup. Took us a year to build up that much and I've also probably spent more on tackle than poles.