Vinyl isn’t a cheap hobby.

• You need a decent record player.
• Used is fine.
• It should feel heavy.
• The arm should not be designed straight unless you’re a scratch dj.
• It should use a standard head shell so that replacing the needle is simple.
• “Direct drive” motors are nice but not essential.
• Automatic stylus return is essential.
• Technics brsnd “1200” series players will be overpriced but a lot of others are out there. I have a pair but use a Gemini brand player for listening.
• Pitch control isn’t essential.
• You should calibrate the counter weights and other settings to avoid excessive wear on your records.
• You need to place the player on a solid surface that is not near speakers.
• You need a line level converter and you must attach the ground.
• You need a record cleaning brush.
• You need space for the records. Lots of space.
• Don’t leave records in a car or somewhere that gets hot or they will warp.

What to know? Other than the 12x12 graphic format, vinyl is a pain in the ass and it sucks, and the new pressings are ridiculously over priced.

CDs are still the best way to go. Better sound, easier to handle, fairly indestructible. Used ones used to be super cheap, prices are rising, but they are still a better deal than vinyl, and you can still find lots of good deals at garage sales.

Another perspective:

1. You can own your own music in many more formats than just vinyl.
2. CDs are still being made, and cheap. Second hand CD trade is huge, and they are always cheaper than vinyl to buy and ship. Digital ownership is even cheaper (eg Bandcamp), and the same or higher quality.
3. RuTracker has an enormous collection of FLAC well-seeded, as do other sites (but they require invites). Soulseek has an enormous collection and requires no account.

Regarding equipment just get some good speakers and an amp, you'll need that regardless of what format you end up getting your music in.

Vinyl is often a trap. Expensive, fragile, degrades, difficult to resell unless you live in a big city (postage & packing), and the quality is ultra subjective and varies wildly between pressings. Just look up a couple of popular albums you know on Discogs or rateyourmusic and browse the comments see what they cost and how many people bring up complaints on pressings.

I'm all CD and FLAC and loving it. Bandcamp is my first port of call, then CD (new or second-hand), torrent if rare or OOP or unavailable anywhere I frequent.

Something else that may help - if you really think vinyl will sound better, enormous FLAC rips (2GB+) of popular high quality pressings in 192kHz/24-48bit rips are not uncommon on torrent and Slsk - vinyl enthusiasts often make a high quality digital capture of their purchases while the vinyl is new, so that they have a near-new copy in case their vinyl ever degrades with wear - or simply so they can use digital for convenience, but keep the analog hiss and increased frequency range of vinyl pressings. Best of both worlds.

(Edit: rutracker, not rutorrent)