Ridley AP300 is like $15,000, that's probably a good reason why not to buy one
You can rent one for
only about $1000 a day though for final testing of a design. Good design in the first place saves a lot of money.
It's not
that hard to derive transfer functions if you're good at maths, although it's not for the faint hearted. I've done it before with only an A-level in maths, no engineering degree and a potentially autistic obsession. You don't really need to derive transfer functions most of the time though as most designs are based on existing work with known transfer functions, you just have to know how any alterations you make will affect it, or when what should be stable on paper isn't stable in SPICE you might have to start from scratch to work out where things went wrong.
e.g. when I first did a feedforward voltage mode control, and I read in the textbook/app note that the effect it had on the transfer function was to divide by Vin, changing the existing Vin to Vin/Vin=1. I made a linear model, made a stable design, made a switching model and it was unstable. I didn't expect a textbook to be wrong, so after a week of head scratching I went and derived the transfer function and found that this part of it while mostly constant regardless of Vin was not =1. I put in the number it was equal to, adjusted my compensator and it worked.
I also derived a whole linear model for average current mode control (it was way overcomplicated until I changed from a Norton to Thevenin equivalent circuit). It was so satisfying to see where the inductor drops back into the loop at high frequency as it should without me having to do anything to the model for that behaviour as I took it as a strong suggestion that my model was correct.
This brings me to my point... I'd be grateful if you could tell me how to make a ton of money with this skill, because that's something I haven't figured out yet...