Just got off a chat with a former chairman of the Audio and Visual Team of my high school; the Team is not in its best shape but I do feel more confident now that I can get the crew I need. The next step is to figure out the cast. Moreover since I am leaving the States in two weeks, I have to make all purchases in the next few days.

Equipment that renting in Hong Kong is a lot cheaper:
Camcorder
Lights
Microphones (really great prices, probably due to the much longer life expectancy of microphones over camcorders)

Equipment that buying in US is not a lot more expensive:
35mm adapter (Cinerent only carries P+S, too expensive for me to use. As a side note shallow DOF is completely a personal taste; nothing about shallow DOF = film-look)
Digital Sound Recorder (again Cinerent only has high end models)
Gels for lights (in fact they are cheaper considering the colors I can get by buying)

Equipment that is more expensive to buy but nevertheless I am buying:
Follow-focus set (have to buy because I think this is something that takes a lot of practice to get use to)

Equipment I have not decide what to do:
boompole

I have to constantly remind myself that I cannot spend all my budget on equipment purchase since I need to have enough money for compensation, rental and the coming Eastern Europe trip.