Research research research . . . there are a myriad of different ways to do this.
Consider 1) What is the final product you wish to receive ?
2) What are the requirements of the instruments and amps.
a) micing amps ?
b) line out from amps ?
c) instrument direct into an interface and all "tone & effect" being internal ( digital ) ?
d) Acoustic drums vs electronic close mic vs a minimal system?
e) monitoring system (external vs direct to headphone ) ?
Could range from anything from a mini recorder doing ambient sound to an interface directly into a computer / DAW
I have been researching and working on our system for over a year and still have more questions than answers.
The information you provided only makes for an impossible answer.
Perhaps all you need is a JAM HUB ?
http://www.musiciansfriend.com/pro-audi ... -recording
At only a $1500.00 budget . . . you will have to be
VERY WISE in selection. Cause you can burn through that just in cables and snakes for some set ups.