I may have just had a grand idea... There's an open mic night tonight. I've played it a few times since turning 21 and always have a good time. I've really been itching to finally get some music released via Bandcamp (or another such site). I'm thinking of pulling a sort of Neil Young move... Recording my set at this open mic (though with just my handy dandy Tascam DR-05 mobile recorder), then coming home and doing a bit of editing\overdubbing and releasing it as a 5 song EP. Doable? Thoughts? Tips? Criticisms?
Neil Young can get away with it because he is Neil Young. A lot of people will buy *anything* he does.

Ask yourself this... If *I* recorded an album like that, would *you* buy it?

Best way to do an EP on the cheap is to find a local project studio where there is a person who has the space, some decent enough gear, and the know-how to do it. You'll pay $150-$200 for a six-hour day. For five songs, I'd recommend doing two days. Mixing may or may not be extra. It'll cost you about $500 in the end, but you'll have something that will actually be release-quality.

Could I get some more talent in the monitors, please?

I know it sounds crazy, but try to learn to inhale your voice. www.thebelcantotechnique.com

Chris is the king of relating music things to other objects in real life.