REAPER is a fully featured professional Digital Audio Workstation Software, a complete multi-track Audio and MIDI recording, editing, processing, mixing, and mastering environment. It is not completely free but it deserves a special mention on Studiotoolz. The evaluation version is fully functional and you can work with it until you later decide if you want to register it, with the discounted license it’s really the best option to build a low budget music production studio. We can’t really recommend it enough, it is really on the best DAWs available.
As with any other professional DAW, you can basically record audio and MIDI from multiple inputs simultaneously and edit sound recordings in almost any imaginable way, all the editing and effects are completely non-destructive and it includes hundreds of audio and MIDI processing effects. Of course it is completely compatible with almost all VST, AU, or DirectX plug-ins, or you can also integrate it as a ReWire master or slave, with another DAW.
REAPER can run on nearly any modern computer, it is very lightweight, easy to install and fast to get running. Use whatever audio device you have available, from cheap on-board audio all the way up to professional audio interfaces.
Perfectly at home in a studio, REAPER will use as much hardware as you can throw at it. With no practical limits on hardware I/O, MIDI devices, control surfaces, track counts, or plug-in delay compensation, REAPER is a modern and technologically advanced platform for recording and mixing.
Although REAPER is digital and modern, it supports classic analog features such as varispeed playback and recording, enabling legendary production techniques that are often forgotten.