Greetings!

I am a college student just finishing up my last year. I have a
small studio set up at my rental house at UC that works pretty well for
me. It's an old house, so it's built solid. We put some stuff on the
walls, put the control room upstairs and it has worked well. Now the
problem is that at the end of August my lease is up and I'm going to be
moving back home for a year or so (cue the mama's boy jokes). I really
think recording is a possible career for me so I have to have a studio
set up somewhere.
My parent's house has a pretty decent basement that is unfinished
and for the most part not used for anything. The area I have to work
with is about 16' x 21'. Since I'm not there I can't tell you the
height of the ceiling, but it's probably around 8' or so. Two current
walls are concrete and the other two are just temporary things you can
actually see through. I have found from trying to take naps down there
that you can hear everything from upstairs in addition to all the stuff
downstairs (water heater, AC/furnace, water softener, dehumidifier,
hepa filter, etc).
As is probably assumed by the statements of me being just out of
college and only living at home again for probably a year, that I am on
a very low budget. There is already some really nice, thick carpet
down there thanks to some insurance money.
I guess the requirements for this thing would be as follows:
1. Isolation from upstairs (in both directions)
2. Isolation from the rest of the basement
3. Isolation from the big loud AC unit that is right outside the
windows from the room
4. A decent sound for recording (duh)
- I'm used to a dead, no-room, sound, so I don't have a problem
with having that again
5. Somehow (and I know I'll get flack for this) have a control
room-type thing in this area, whether isolated or I'll just have to be
quiet.
6. Cheap and easy, 'cause I'll most likely be doing this all by myself.

Oh, I have a 100' 24x4 snake if that matters for control room
stuff.

One more thing. I'll probably be recording mainly jazz groups, so
drums will be present. I also expect to at some point get some rock
bands and stuff in there if things go well (wow, I never thought I'd
say that).

Thank you for reading this whole thing and thank you in advance for any
and all advice you can give me.

-Steve