Welcome to the Website! And its awsome to see more people getting into the Hunting World!
Now to awnser your questions.....
Many people have diffrent opinions on Bows/Guns of choice, So heres my saying.
For a Bow, I would go with a used Hoyt or fred Bear. Like Ksharvester said, You can get a great used bow for pretty cheap. I have saw many newer Models on craigslist going around $600 and Lower, with acc on them.
Now for gun wise, Go with a MuzzleLoader, TC Omega .50cal is a Great gun! and should be within you price range at about $550 or something, and thats the package. IMO buy a New one, then you will know everything you would need to know about the gun and will know that there is nothing wrong with the gun.
I dont really know the Hunting laws in Indiana, but if their like Ohio, You can use a MuzzleLoader during gun (Only need one shot anyway). So that would have you set for a full season of hunting.
As for Other hunting Gear...
-Good Boots! Rubber ones are best IMO
-A good set of hunting clothing for Warm/mild/cold, Also if your like me and care about scent, Get Scent Lok.
-Make sure you buy a good Range rinder for when your Bow hunting, Unless your a great guessamater.
-A good Trail Cam comes in handy during the off season and also during season, to find out when/where them monster are moving.
-A good treestand! Depending on if you want to sit in the same spot every day or be able to move around to diffrent spots with less of a hasal, Get either a Climber or a Hang on.
---For Hang ons, Lone Wolf makes amazing stands.
---For Climbers, Summit makes the best all around!
---I preffer a climber over anything, they are comftorable, more portable, and easy to use.
Now i believe you are set for life
Good luck to the rest of your Hunting Life! Dont Be afraid to keep us all updated on how you do this season!
~Blue