With regards to earning money, you will need to get in a decent band to do so. It takes a lot of practice & commitment to get a decent band together so they will want to maintain their reputation....you will be expected to be up to scratch in this case.
As a guitarist, I've been in an established covers band for over 6yrs. We don't need to rehearse unless we are introducing a new batch of songs so if we were auditioning (but we're not) and thought someone fitted the bill they would have to learn the setlist properly in their own time within a limited period. Only then would we be prepared to pay out for a studio for a full band rehearsal and that would be the only one; if they were'nt gig ready we'd use a dep until we found a replacement. Sounds harsh but we've done our share of shelling out for rehearsing to get where we are.
We definitely wouldn't consider a bass player without decent gear.
If it's beer money you're after, I'm sure there will be students around to form a band and get away with just enough to do that in your area.
Good luck!