Expanding slightly on this, the cheapest Red Camera costs $6k (and I think might not include a lens?), so that's a pretty big savings.
I can rent a RED camera and lenses for maybe $1000/day ($3,000/week).
It's not that big a savings at all, for one of the most pivotal parts to the process, is that where you want to be skimping?
An iPhone + good lighting + microphone will give you fantastic footage.
You don’t need the drone or lift. If you’re not trying to do those effects they don’t matter. The iPhone can give you great results if you own one, you don’t need to buy a fancy camera, you can spend your budget elsewhere if you’re getting started.