yea you deff need the following...

Microphones
Amps
Speakers
ATLEAST 2 turn tables - to switch between records
Records {mostly old school to mix in with new school lyrics}
Mixing software {to edit shit for computer}

dude, you must have some crazy dough...this shit listed
above is needed if your serious, and it only gets more
expensive...look to spend no less than 1500 for all that
above on GOOD equipment