Starter Studio Setup for around 1000 USD/EUR?

[James R. Coplin]

So, a long time family friend's son is in high school now and starting 
to want to put together a setup for recording. He has a bass guitar and 
the DAW sorted but is looking to stretch out with synth, drum machine 
etc. I had a hard time making concrete recommendations beyond a couple 
because I have reached a point where budget and versatility 
considerations do not really inform my studio any longer. His need is 
obviously for maximal efficiency and utility for a limited budget. So, 
if you had around thousand us dollars or euros, what would your most 
bang for the buck studio setup be? The setup must include a midi 
controller or synth that could function as one, powered monitors, and a 
drum machine of some sort. Plugins are an option as is physical hardware 
and he doesn't seem to have a preference one way or another. He views 
this setup as being for recording at home and not for playing out. Thoughts?

James