Economical test equipment is available for HF and VHF frequencies, but the ISM bands in this range are fairly narrow. More interesting are the higher ISM frequencies, e.g. the 900 MHz, 2.4 GHz, and 5 GHz bands. Unfortunately, commercial equipment for these frequencies is extremely expensive. However, the popularity of these bands for commercial applications has brought about the availability of a variety of high frequency integrated circuits at very low prices. These could be used to build instruments which, although not as accurate as expensive laboratory equipment, nevertheless provides useful functionality at a much lower price.
Also, there are no US ISM bands between 5 GHz and 24 GHz. 24 GHz is more of a challenge than we are equipped to take on. In fact 5 GHz is probably on the boundary of what we should attempt.