>Is this something that is feasable with limited resources/budget?

 From a hobby point of view where time is not limited, you can deal with
burnt fingertip every now and then, and you expect to have a blown part
occasionally, it can be done with a limited budget.

The cheapest setup is:
A soldering iron  (25-40W)
Small diameter solder  ( 0.032" diameter)
Desoldering wick
A razor blade (to cut traces)
A multimeter (to check for shorts)
Fine grit sandpaper
Time - lots of time

Basically, you section the board with the razor blade to create copper 
paths instead of wires.
Then, check all of the sections with the multimeter to make sure there is 
no short between
it and the sections besides it. If so, run the razor blade through it 
again, recheck it. Once the
board is short free, use the soldering iron to heat up the copper paths and 
melt a tiny drop of
solder where the components will connect to the copper path. Check for 
shorts again and remove
the offending the solder that caused the shorts with the razor blade or the 
desoldering wick.
Now stick a component where you want it on top of it's small drop of 
solder. Heat the copper
path up until the solder melts and push down on the part with your finger 
to "stick it" to the board.
Check for shorts and fix them again. Continue with the rest of the parts 
the same way.
Surprisingly, at least to me, most of the resistors, capacitors, and 
inductors can take a lot of heat
before not working so don't worry to much at first that it seems to be 
taking to long to get the part
situated.

 From there you can build onto your SMT equipment and I would recommend:
A temperature controlled soldering iron
A lighted 5-10x magnifying lamp   ($35 US at most office supply stores)
A board etcher (outsourced, chemical, or mechanical)
A good desolderer
A pair of tweezers to place and hold the components so you don't burn yourself
An Aloe plant to help with the burns  ;-)

Good luck!



_____________________________________________________________
Cris Wilson
Information Resource Consultant
College of Architecture, Arts, and Humanities
Clemson University
cris@clemson.edu
To report problems email: aah_computers@clemson.edu




                                

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