Buy & Rent Test Equipment for Maintenance Job

No. Not with so little information.

Check pawn shops. Contractors will park tools and such at a pawn shop for security and spending cash. When they need the tools again, they just pay the pawn ticket. If the new job needs different tools, there they are, cheaper than a rental store.

PPM to be carried out by trained technicians and they should be provided basic necessary tools to perform the tasks. For capital items /tools you can consider the possibility of hiring it or buying it as long term investment.

I think it was Henry Ford who said "If you need a piece of equipment and don't buy it, eventually you will find that you have paid for it and don't own it."

Refer to #1

What does to do pm for inst. mean?