Here is an entirely different way to go:
Not saying the other options already offered might not even be better than my way, so please remember that I am an "old dog" and I am a bit stuck in using my "old tricks", so I have not even tried recording directly into BIAB yet.
With this said you might want to look at a stand alone recorder i.e.
Some Recorders on Ebay I know some of these may be a bit out of the price range you spoke about but it is just an example. For instance I bought the Boss 1180CD (which writes directly on a CD) for 500.00 five years ago on Ebay, so I am sure you will find something within your budget.
The reason I like the stand alone is because I can record my BIAB arrangements directly from my computer then add vocals and or instruments to one of the many other available tracks on the recorder. Then I convert to an mp3, bring it into my computer and by using any CD burner make all the CD's I need.
Hope this helps.
Later,