The Tascam DP-008 is affordable and portable. It is small and lightweight; take it with you anywhere to record. It records and allows you to get your files into your computer via USB. It does have a built in microphone preamps. These preamps are not the best in the world but they will do just fine with a decent microphone.
You can record up to 2 tracks simultaneously with the dP-008 and it has 2 XLR mic inputs both with phantom power. It comes with a chromatic tuner and metronome built into it that was a great extra unexpected feature to have in a unit for this price range. This portable recorded is also durable, out of all of the times that I have used it; it has been dropped and even stepped on before while in a bag of mine and it never stopped working.
I love how you can run this with AA batteries so that no matter where you are you can make music and do not have to always have it plugged in. It does come with a power supply though so you don’t have to worry about using batteries all the time or going out and buying the power supply.
As far as effects, you will not get many of them just some reverb. It would have been nice to have more effects but at this price I am surprised it has reverb and 2 band EQ controls on each channel. All of the knobs on the front of the unit are pretty well made and feel like they should be on an expensive recorder. The track wheel that works the screen functions is even pretty good and not cheaply made. If I could make one change with the DP-008 it would be to make the display screen a little more vibrant. It looks dull when looking at it in all light sources. But that is something minor compared to how great this affordable recorder actually is.